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Warranty Direct sold

Finance and insurance supplier Cardif Pinnacle has acquired a majority shareholding in web-based provider Warranty Direct for an undisclosed sum.

The company continue will act as a stand-alone business from its existing headquarters in Reading, and sell products separately from Cardif Pinnacle.

Cardif Pinnacle declined to comment on values, or whether there were any further acquisitions planned, but AM understands the company is considering other opportunities.

Paul Glen, chief executive of Cardif Pinnacle, said: "The acquisition of Warranty Direct will significantly improve the service and product proposition we can offer to our dealer customers and direct to consumers.

"Our ability to accelerate the expansion of our warranty business is significantly enhanced by this acquisition."

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