- Solera (SLH -0.4%) purchases a minimum 50% equity interest in Service Repair Solutions from P-E firm Welsh, Carson, Anderson & Stowe for $289M with a call option to buy the firm's remaining shares in the JV (and a reciprocal put option held by the P-E firm). The transaction is expected to close in Q2 of FY2014.
- The move continues a trend of vertically-oriented integration for the insurance software provider. SRS's diagnostic and repair database is used by ~50K repair shops in the U.S. and Canada.
- Management expects the transaction to generate revenue of $80M-$82M in FY 2014 and EPS of $0.20-$0.22.
From other sites
at Nasdaq.com (Jan 26, 2015)
at Benzinga.com (Dec 23, 2014)
at Nasdaq.com (Nov 25, 2014)
at CNBC.com (Feb 4, 2014)
at CNBC.com (Jan 31, 2014)
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