Solera Holdings, Inc. Acquires CarweB Limited; Acquisition Will
Strengthen Vehicle Data and Decision Support Capabilities in the UK
WESTLAKE,
Texas, Dec. 7, 2012
/PRNewswire/ -- Solera Holdings, Inc. (NYSE: SLH), the leading
global provider of software and services to the automobile
insurance claims processing industry, today announced that it has
acquired 100% of the outstanding shares (the "Acquisition") of
CarweB Limited ("CarweB").
CarweB is a provider of vehicle history and
vehicle-specific technical data products and services to the UK
market. CarweB's robust platform is relied upon by a wide range of
customers including parts suppliers, collision and service repair
shops, automobile dealerships, manufacturers, insurers, financial
institutions and, through its B2C platform, consumers. CarweB's
solutions enable its customers to more effectively make both car
and car parts purchasing decisions. CarweB's strong customer
relationships, data and innovative product features will allow
Solera to continue to enhance its value proposition, expand its
customer base in the part supplier, automobile dealer and service
repair shop segments and provide further diversification of its
business mix.
"CarweB complements and further strengthens our Audatex
and HPI platforms in the UK. We are confident that CarweB
will drive greater synergies between these platforms to better
serve our customers. CarweB's robust data solutions and
strong industry relationships will enable us to continue to
leverage our current customers segments in the UK market and expand
into adjacent customer segments, such as part suppliers and service
repair shops," said Tony Aquila, Solera's Founder, Chairman and
Chief Executive Officer. "I am also pleased to welcome a management
team that has a proven track record of bringing innovative,
high-ROI products to market and whose entrepreneurial culture
aligns well with Solera."
About Solera
Solera is the leading global provider of software and
services to the automobile insurance claims processing industry.
Solera is active in over 60 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 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, and Explore providing data and analytics
to United States property and
casualty insurers. For more information, please refer to the
company's website at http://www.solerainc.com.
Cautions about Forward-Looking
Statements
This press release contains forward-looking statements,
including statements about: the benefits of the Acquisition,
including enhancements to our value proposition and our existing
product platforms, customer expansion and penetration and
diversification of our business; the benefits and value of CarweB's
products and services to customers and the Solera Group; and
statements about CarweB's historical results that may suggest
trends for its business. These statements are based on our current
expectations, estimates and assumptions and are subject to many
risks, uncertainties and unknown future events that could cause
actual results to differ materially. Actual results may differ
materially from those set forth in this press release due to the
risks and uncertainties inherent in our business, including,
without limitation: the failure to realize the expected benefits of
the Acquisition; risks associated with and possible negative
consequences of acquisitions, investments, joint ventures and
similar transactions, including successfully integrating CarweB and
its employees; risks associated with the uncertainty in and
volatility of economic conditions in the UK and globally; effects
of competition on our product and service pricing and our business;
time and expenses associated with customer adoption and switching
customers to new software and services; effects of changes in or
violations by us or our customers of government regulations; rapid
technology changes in our industry; our reliance on third-party
data or products; and effects of security breaches on our business
and reputation. For a discussion of these and other factors that
could impact our operations or financial results and cause our
results to differ materially from those in the forward-looking
statements, please refer to our filings with the Securities and
Exchange Commission, particularly our Quarterly Report on Form 10-Q
for the Quarter Ended September 30,
2012. Solera is under no obligation to (and specifically
disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
SOURCE Solera Holdings, Inc.