Solera announces acquisition of Dutch data and software company Colimbra
WESTLAKE, Texas, June 5, 2017 /PRNewswire/ -- Solera Holdings, Inc. ("Solera" or the "company"), a global leader in data and software for automotive, home ownership and digital identity management, today announced it has augmented its technology portfolio in the Netherlands with the acquisition of Colimbra Holding B.V. ("Colimbra"). This is Solera's second acquisition in the Netherlands during the last 6 months, and underscores the company's commitment to intelligent data management and identity protection for the industries it serves. Colimbra, which specializes in intelligent data management software and services for the automotive insurance industry, represents the latest in a series of investments that strengthens Solera's digital leadership in the Netherlands and across the globe.
"The Netherlands is an innovative market in the areas of financial services, digital identity protection, intelligent data management and transparency around the automotive industry," said Tony Aquila, Solera's founder, Chairman and CEO. "The Netherlands continues to be very technologically advanced, and over the past decade we have been able to help automate and integrate innovative technologies, facilitating transparency and efficiency in the Dutch market."
Solera first entered the Dutch market in 2006 with its acquisition of claims processing data and software company, ABZ. In 2010, Solera broadened its risk and asset management platform with the acquisition of Market Scan, a leading provider of advanced analytics and data insights for the Dutch insurance industry. In 2011, Solera acquired Commerce Delta, a premier developer of collision repair shop management software. In August 2015, Solera acquired Autodata B.V., a market leader in vehicle valuation, inventory management and workflow optimization software for automotive dealerships and leasing companies. In a move to expand beyond the automotive and insurance industries, Solera earlier this year acquired 100% ownership of Digidentity, a next-generation provider of identity certification and authentication technologies serving customers that include the governments of the Netherlands and the United Kingdom. This acquisition followed an early-stage venture capital investment from Solera in 2010.
Solera's most recent acquisition of Colimbra not only strengthens the Dutch technology company's intelligent data management and exchange solutions for insurers and underwriters, but also enables the accelerated delivery of Colimbra's innovative risk management applications for the broader financial services industry. The deal also advances Solera's global mission to digitize the car ownership experience across the 54 touchpoints in a vehicle's lifecycle.
"Many Dutch technology companies embrace Solera's culture of customer-focused innovation, making the region ideal for both our Invent & Acquire strategy and the accelerated expansion of our risk and asset management solutions for life's most important assets," continued Aquila. "Solera's recent acquisitions of Colimbra and Digidentity represent our relentless commitment not only to developing cutting-edge technologies for the Netherlands, but also to delivering best-in-class data and software solutions for our customers and partners around the world."
About Solera
Founded and continuously led by inventor and entrepreneur Tony Aquila, Solera is a global leader in digital technologies that manage and protect life's most important assets: our cars, homes and identities. Since its inception in 2005 as a garage-based startup, Solera has grown aggressively with over 45 acquisitions across its Risk Management Solutions, Service Maintenance & Repair, and Customer Retention Management platforms. The company's current product solutions include Audatex, Autodata, AutoPoint, CAP/HPI, Colimbra, Digidentity, Enservio, Explore Data, Hollander, Identifix, Inpart, LYNX and TitleTec, as well as the company's flagship Digital Garage application. Today, Solera processes over 250 million transactions annually for approximately 200,000 partners and customers in nearly 90 countries. Unified by a strong culture that values uncommon entrepreneurial thinking and continuous "do-it-different" innovation, Solera's global workforce of 6,000+ associates comes from diverse forward-thinking industries that include automotive technology, artificial intelligence, software development, data sciences, cybersecurity, cognitive design, and digital identity protection. Solera went public on the NYSE in 2007 under the stock symbol "SLH", joined the S&P 400 in 2009, and went private in 2016 in a $6.5 billion transaction backed by leading investors that include Vista Equity Partners, Koch Industries and Goldman Sachs. For more information, please visit solera.com, fb.com/solerainnovation, or @soleraworks on Instagram and @solerainc on Twitter.
Cautions about Forward-Looking Statements
This press release contains forward-looking statements, including statements about the benefits of the acquisition of Colimbra (the "Acquisition"), including, but not limited to: Solera's and Colimbra's expected continued growth in the delivery of intelligent data management, risk management and information exchange solutions; and Solera's continued ability to digitize the car ownership experience across the vehicle lifecycle, and provide digital leadership and proliferate its innovative products and services across the globe. 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 and Colimbra'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 and similar transactions; successfully integrating Colimbra's solutions with or into other Solera group offerings, including but not limited to, Solera's existing risk management solutions products and services; continued adoption of Colimbra's and the Solera group's products and services; effects of competition on product and service pricing of Colimbra's and the Solera group's business; Solera's ability to obtain additional financing as necessary to support its business or operations; rapid technology changes in Solera's industry; and effects of security breaches on Solera's business and reputation. 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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