Solera Holdings, Inc. Acquires K&S Beheer B.V.; Enhances Product Suite With Market-Leading Collision Repair Shop Management System; Further Strengthens Core In The Netherlands
WESTLAKE, Texas, Nov. 2, 2011 /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 purchased K&S Beheer B.V., a leading, Netherlands-based collision repair shop management system provider. Combining K&S Beheer's market-leading products with Solera's distribution capabilities will allow Solera to offer collision repair shops in the Netherlands an integrated management solution that controls most operational elements of the collision repair process.
"We are delighted to have K&S Beheer, a premier collision repair shop management software company in the Netherlands, join the Solera family," said Tony Aquila, Solera's founder, Chairman and Chief Executive Officer. "K&S Beheer's leadership team and Commerce Delta products fit nicely with our M-M-C (Management-Margin-Core) acquisition criteria. This acquisition marks the fourth M&A investment we have made to further execute our mission to create a high value, integrated platform for our collision repair shop partners to communicate and transact business more seamlessly."
About Solera
Solera is the leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in nearly 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, AUTOOnline providing salvage disposition in a number of European and Latin American countries, Hollander serving the North American recycling market, Explore providing data to U.S. P&C insurers used in the re-underwriting of their insured drivers, 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: the benefits and value of K&S Beheer's and Solera's collision repair shop products; and statements about 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; the failure to realize the expected benefits from our acquisition of K&S Beheer; our inability to successfully integrate K&S Beheer's business, including its existing employees, customers, infrastructure and product offerings, with our existing business at reasonable cost, or at all; our ability to convert our customers to K&S Beheer'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; 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 Annual Report on Form 10-K for the Year Ended June 30, 2011. 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.
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