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Solera is the leading global provider of software and services for the automobile claims processing industry.
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about our Guiding Principles
from our Founder, Chairman
DALLAS, Feb. 2, 2011 /PRNewswire via COMTEX/ --
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 purchased New Era Software LLC, a U.S.-based provider of bodyshop management systems. New Era's expertise coupled with Solera's distribution capabilities will make available to Solera's 12,000+ collision repair customers in North America an integrated management solution that controls most operational elements of the collision repair process. By further expanding its product offering, Solera continues to provide collision repair facilities with better tools to give them a competitive edge.
The combination of Solera's customer base and platform with New Era's scalable and modular bodyshop management system ("BMS") will allow Solera to deliver more high-value services to its collision repair customers, enabling them to more effectively manage their operations and administrative activities with vendors, insurers and customers. In addition to New Era's BMS, Solera is very excited about New Era's volume-based scheduling and workflow management tools, which will include the ability for collision repair facilities to display and intelligently manage vehicle repair status that can be tracked real-time by customers, rental car agencies and insurance professionals via an electronic device of their choice.
"This acquisition is our third investment of the newly formed HEMI initiative. This acquisition further demonstrates our commitment to our M-M-C (Management-Margin-Core) acquisition philosophy, and we believe this is a strong blend of all three criteria. With our acquisition of New Era in North America and our recent investment in Digidentity and acquisition of Market Scan in the Netherlands, we are making the investments that can further drive profitable growth," said Tony Aquila, Solera's Founder, Chairman and Chief Executive Officer.
Solera is the leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in over 55 countries across six continents. The Solera companies include Audatex in the United States, Canada, and in more than 45 additional countries, Informex in Belgium, 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, and IMS providing medical review services. 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: HEMI's M&A initiative; the expected benefits, features and value of New Era's products; growth in the HEMI region; and statements about acquisitions and historical results or performance that may suggest trends for our 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: risks associated with and possible negative consequences of acquisitions, joint ventures and similar transactions; our ability to convert our customers to New Era's products and services; our reliance on a limited number of customers for a substantial portion of our revenues; risks associated with the uncertainty in and volatility of global economic conditions; effects of competition on our software and service pricing and our business; time and expenses associated with switching customers to new software and services; rapid technology changes in our industry; costs and possible future losses or impairments relating to our acquisitions; our reliance on third-party products; intellectual property matters; 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, 2010. 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.