Deals

Best Buy Acquires Senior-Focused Device Maker for $800 Million

GTCR-owned GreatCall has more than 900,000 subscribers
Google, Samsung also in race to tap growing seniors market

A cashier, left, serves customers at a check out counter inside a Best Buy Co. store in Louisville, Kentucky, U.S.Photographer: Luke Sharrett/Bloomberg

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By Matthew Boyle

August 15, 2018 at 9:23 PM UTC

This article is for subscribers only.

Best Buy Co. is going after Grandma.

The electronics retailer agreed to pay $800 million to acquire GreatCall Inc., a provider of smartphones and emergency-response systems for seniors, broadening its push into the burgeoning market for connected-home products and services. The deal, which should close by the end of the third quarter, will boost adjusted earnings by 2020, Best Buy said in a statement Wednesday.