May 13, 2014, 9:56 AM
- Solera Holdings (SLH +1.3%) opens higher after agreeing to acquire the insurance and services division of Pittsburgh Glass Works for $280M.
- Solera, a global provider of software and services to the automobile insurance, expects the deal to help it become a comprehensive automobile repair and claims management company.
Oct. 4, 2013, 11:33 AM
- 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.
Sep. 17, 2013, 11:18 AM
May 29, 2012, 4:52 PMAuto insurance claims software firm Solera (SLH) says it's buying Actual Systems, a provider of software for managing parts recycling yards, for an undisclosed sum. The company touts Actual's ability to complement Solera's auto parts software business, and its international exposure. (PR) | Comment!
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