Novation Companies Inc. sold its StreetLinks LLC subsidiary to Assurant Inc. for $60 million in cash and a potential earn out payment of up to $12 million based on future performance.
Kansas City-based Novation, formerly known as NovaStar Financial Inc., acquired a majority interest in StreetLinks predecessor company PipeFire LLC in August 2008 for $750,000 in cash, with earn-out payments of up to $3.25 million. At the time, the company was fighting off a potential bankruptcy and offering no assurances…
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