Solera Holdings to Acquire UK Claims Related Business from Sherwood Group of Companies

Solera Holdings, Inc., a global provider of software and services to the automobile insurance claims processing and decision support industries, announced that it has signed an agreement to acquire, through a series of transactions, the claims-related products and related intellectual property from the Sherwood group of companies.

In a release, Solera said the Business is a provider of exchanges, settlement platforms, and data analytics focused on the insurance industry in the UK, including car rental billing services and pet insurance claims, a market that has been growing in the double-digits with approximately one million policies in force today.

The Acquisition is subject to certain closing conditions and is expected to close in the fourth quarter of Solera's fiscal year ending June 30.

"The Acquisition expands our platform to serve additional complementary areas of the household. The Business will drive transactions from the fast-growing pet insurance market onto our platform in the UK, which we believe can expand into to other markets," said Tony Aquila, Solera's founder, Chairman and Chief Executive Officer. "Furthermore, combining the Business car rental billing management and predictive data analytics services with our leading automotive collision claim, Service, Maintenance & Repair and vehicle history platforms will add even more functionality for our customers, and their customers, and will enhance our product offerings in the UK."

Solera is active in over 69 countries across six continents. The Solera companies include: Audatex in the United States, Canada, and in more than 45 additional countries; Informex in Belgium and Greece; Sidexa in France; ABZ and Market Scan in the Netherlands; HPI and CarWeb in the United Kingdom; Hollander serving the North American recycling market; AUTOonline providing salvage disposition in a number of European and Latin American countries; IMS providing medical review services in North America; Explore providing data and analytics to property and casualty insurers; and Service Repair Solutions, a joint venture with Welsh, Carson, Anderson & Stowe, that provides solutions for the service, maintenance and repair market.

More information:

http://www.solerainc.com

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