DALLAS, Dec. 28, 2010 /PRNewswire-FirstCall/ -- Solera Holdings, Inc. (NYSE: SLH), the leading global provider of software and services to the automobile insurance claims processing industry, today announced that it has purchased a minority equity stake in Digidentity B.V., a Dutch company that is a leading provider of next-generation E-identification certificates for authentication of online identities.
The E-identification certificate is a critical component of the back-office operations of ABZ, Solera's Dutch operating subsidiary, and is utilized by all ABZ clients to access ABZ's products and services. The implementation of Digidentity's E-certificate will strengthen ABZ's core offerings and enhance customer security in the Netherlands.
"This transaction represents our first investment from HEMI's $150 million M&A initiative of which $10 million has been initially targeted for investment in disruptive and innovative technologies. Our investment in Digidentity is designed to accelerate our ability to deliver further value to our core customers not only within the HEMI region but across Solera's portfolio of companies as increased security within the claims process emerges alongside more robust applications. In addition to strengthening our core offerings in the Netherlands, Digidentity's scalable and cloud computing based products can enrich our Market Scan and AUTOonline offerings," said Tony Aquila, Solera's Founder, Chairman and Chief Executive Officer.
Solera is the leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in over 50 countries across six continents. The Solera companies include Audatex in the United States, Canada, and in more than 45 additional countries, Informex in Belgium, 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, and IMS providing medical review services. For more information, please refer to the company's website at http://www.solerainc.com.
Cautions about Forward-Looking Statements
This press release contains forward-looking statements, including statements about: HEMI's M&A and strategic investments initiative; our expected benefits from implementation of Digidentity's products; and the scalability of and potential application of Digidentity's products in multiple Solera markets. These statements are based on our 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 our business, including, without limitation: risks associated with and possible negative consequences of acquisitions, investments, joint ventures and similar transactions, including successfully managing Digidentity with our co-investors; risks associated with the uncertainty in and volatility of global economic conditions; effects of competition on our software and service pricing and our business; time and expenses associated with switching customers to new software and services; rapid technology changes in our industry; our reliance on third-party products; and effects of security breaches on our business and reputation. For a discussion of these and other factors that could impact our operations or financial results and cause our results to differ materially from those in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, particularly our Quarterly Report on Form 10-Q for the Quarter Ended September 30, 2010. 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.