Reinvent Technology Partners Z, a special purpose acquisition company (SPAC), has agreed to merge with Hippo Enterprises Inc., in a $5 billion deal that will take Hippo public. The transaction is supported by a $550 million PIPE investment.
Reinvent Technology Partners Z is led by Reid Hoffman, Mark Pincus and Michael Thompson, founders of iconic technology companies such as LinkedIn and Zynga. Harnessing real-time data, smart home technology, and a growing suite of home services, Hippo is creating the first vertically integrated, end-to-end home protection and insurance platform.
The S&C team advising on the transaction includes Rodge Cohen, Jared Fishman, Marion Leydier and associates Manon Scales, Patrick Lynch and Kevin Zhou. S&C advised on tax matters related to the transaction. Heather Coleman and associate Emma Guido advised on executive compensation matters. Mehdi Ansari and associate Daniel Stern advised on intellectual property matters. Special counsel Roderick Gilman advised on insurance regulatory matters. Special counsel Eric Queen advised on antitrust matters.