Retailer to Pay $800 Million for Senior Smartphone Provider

Best Buy has agreed to pay $800 million to purchase GreatCall, which provides smartphones and emergency-response systems for seniors, reports ThinkAdvisor . GreatCall currently has more than 900,000 subscribers who use its Jitterbug mobile phones and wearable devices to stay connected to family and friends. The acquisition will position Best Buy to land a bigger share of the fast-growing senior-services market. GreatCall devices will be part of Best Buy's new Assured Living unit, which sells networked products such as smart doorbells and bed sensors in 21 markets to remotely monitor the health and safety of aging Americans. "We know technology can improve the quality of life of the aging population and those who care for them," says Best Buy CEO Hubert Joly. GreatCall offers two mobile phones under the Jitterbug brand, as well as wearable devices under the Lively label, which GreatCall bought in 2016. Best Buy was the first retailer to sell GreatCall's products, which connect users to caregivers, concierge services, or emergency staff. Best Buy says the deal should close by the end of the third quarter.