Solera Holdings, Inc. Completes Acquisition of Assets from PS Holdings, L.L.C.
WESTLAKE, Texas, Oct. 8, 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 one of its subsidiaries has completed the acquisition of substantially all of the assets of PS Holdings, L.L.C. (the "Acquisition"), whose services are sold under the "APU" brand name.
APU is a cloud-based locator of recycled, aftermarket, reconditioned and surplus original equipment parts for the vehicle repair industry. Based in the United States, APU sources these alternative parts from its extensive, qualified network of automotive recyclers, parts distributors, dealers and manufacturers. APU's customer base consists primarily of insurance carriers, including many of the top U.S. insurance carriers. In the U.S., parts purchases represent over 40% of the cost of vehicle collision repair, and insurance carriers view access to a robust total parts supply solution as a critical driver in reducing claims severity.
Solera is the leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in over  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.
SOURCE Solera Holdings, Inc.