Thursday, April 5, 2007 , Updated
Dallas-based Direct Pet Health to acquire assets of First Pet Life
DALLAS — Direct Pet Health Holdings Inc. announced today the finalization and agreement to acquire certain assets of First Pet Life. Through this acquisition Direct Pet Health has acquired the insurance contract as well as the back end support of a trusted pet insurance company, enabling DPHG to start writing policies and generating revenue instantly.
Photo not provided by Direct Pet Health
Your dog wants pet insurance, steak
DPHG has also acquired an E-commerce site which will enable them to add on products through exclusive agreements, joint ventures and cross promoting. In consideration for the purchase First Pet Life agreed to sum payment of 408,703 shares of Direct Pet Health Holdings Inc.
"By acquiring these assets DPHG has accelerated its progress in becoming a pet industry leader," stated Direct Pet Health President and CEO, Michael F. Scaccia. "I believe the next several months will be an exciting time in the pet industry as well as for Direct Pet Health as we keep building our asset base heading toward a very promising year."
Source: Direct Pet Health Holdings Inc.
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