Quotesmith.com Inc. an-nounced Tuesday that it has closed the sale of about 2.4 million shares of common stock at a price of $5.50 per share to Zions Bancorp., thus raising $13 million of capital.
The Darien, Ill., online insurance quoting company also announced that its shareholders had elected John B. Hopkins to the board of directors, increasing the number of directors to seven. Mr. Hopkins is a vice president, finance at Zions, a post he has held since last year. From 2001 to 2003, he worked in various capacities in the finance and e-commerce groups at Zions, including as chief financial officer of the e-commerce unit. Before joining Zions, he was the director of financial planning at Citrix Systems and director of strategic planning and acquisitions at Coltec Industries.
Quotesmith.com was founded in 1984 as Quotesmith Corp.; it owns and operates a comprehensive online consumer insurance information service. Visitors to the company's Web site can get instant quotes from more than 200 insurers.
