Solera and MAPFRE Complete the Acquisition of CESVI Brasil to Focus on Training, Research and Repair Throughout the Brasilian Market
WESTLAKE, Texas, Dec. 11, 2018 /PRNewswire/ -- Solera Holdings, Inc. ("Solera"), a global leader in intelligent data and software as a service (SaaS) to manage and secure the automotive, light and heavy truck fleet, home and identity ecosystems, and MAPFRE S.A. ("MAPFRE"), a premier global insurer, announced today the completion of the acquisition of CESVI (Center for Experimentation and Road Safety) Brasil by the two entities' joint venture, Solera Technology Centre GmbH ("STC"). CESVI Brasil is a leading automotive research and experimentation center in Brasil, focused on providing insight, safety guidelines and transparency, including training for vehicle repair facilities and their technicians, insurers, original equipment manufacturers, and governmental entities.
"STC's investment in CESVI Brasil furthers our mission of ensuring complete transparency and safety for vehicle and fleet operations and ownership worldwide," said Javier Velasco, Chief Data Officer of Solera. "The data they collect and the tests they perform are critical to predicting trends and developing cognitive solutions that address the needs of every person who drives, insures or repairs any vehicle in Brasil."
STC adds CESVI Brasil to its growing operations on three continents, focused on modernizing the insurance and vehicle repair ecosystems with data-based science, predictive software, and technology focused education and training.
About MAPFRE
MAPFRE is a global insurer with presence on five continents. MAPFRE is the largest Spanish insurer in the world, the main multinational insurer in the Latin American market and is among the Top 5 in Non-Life insurer in Europe by volume of premiums. MAPFRE employs more than 36,000 employees and in 2017 MAPFRE's revenues totaled almost 28 billion euros, with net earnings of 701 million euros. For more information, please visit https://noticias.mapfre.com/en/
About Solera
Solera was founded by Tony Aquila with the mission to digitize and make mobility transactions across the critical 54 and 250 transactions in a car, truck, fleet to deliver true and accurate transparency and knowledge to everyone. Today Solera, is now a global leader in digital technologies that manage and protect life's most important assets: our cars, trucks, homes and identities. Today, Solera processes over 300 million digital transactions annually for approximately 235,000 partners and customers in over 90 countries. For more information, please visit solera.com.
Cautions About Forward-Looking Statements
This press release contains forward-looking statements, including statements about: the benefits of the acquisition of CESVI Brasil (the "Acquisition"), including but not limited to, STC's global strategy to leverage data, software to further research and develop new products and solutions; and the benefits and value of products and services to Solera's, STC's and CESVI Brasil's customers. These statements are based on Solera's 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 transactions of this nature, Solera's business, STC's business and CESVI Brasil's business, including, without limitation: the failure to realize the expected benefits of the Acquisition; risks associated with and possible negative consequences of acquisitions, investments, joint ventures (including STC) and similar transactions; successfully integrating CESVI Brasil's solutions with or into STC or Solera group offerings; continued adoption of CESVI Brasil's, STC's and the Solera group's products and services; effects of competition on product and service pricing and STC's, CESVI Brasil's and Solera's business; and rapid technology changes in CESVI Brasil's, STC's and Solera's industry. 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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