Plan B Media bets $26M on device insurer iCare
What's the deal? Thailand's Plan B MediaDealroom has a profile for this one. Try Dealroom → has agreed to acquire a 46.28% stake in iCare Insurance for US$28.2M (roughly $26 million). The deal, approved by Plan B's board on September 28, 2026, involves subscribing to 1,126,302,583 new shares through a private placement at US$0.02 each.
Who's involved? iCare specialises in mobile phone insurance and electronic device protection products. It is a subsidiary of COM7Dealroom has a profile for this one. Try Dealroom →, a Thai retailer of smartphones and IT equipment. Plan B Media is an out-of-home advertising company.
What's the endgame? Plan B frames the investment as a long-term play on the growing market for device protection. It sees rising demand as smartphones become more expensive and central to daily life, and as more consumers buy handsets through credit and instalment plans.
Why iCare? Plan B points to iCare's expertise and its access to COM7's distribution network, customer base, and sales channels. It also expects returns from operations and dividends, plus more diverse revenue sources.
The company plans to combine its own strengths — advertising, consumer reach, and partner networks — with iCare's capabilities to develop products and reach new customers.
What could go wrong? The deal carries conditions precedent. It requires consent from iCare's counterparties, shareholder approvals from both COM7 and iCare, and clearance from the Office of Insurance Commission.
The signal: An advertising firm buying into insurance underlines how device protection is emerging as a distinct growth market, bundled ever earlier into how consumers buy and finance their phones.
Read more: mitihoon.com
Image credit: PattayaPatrol
