WESTLAKE, Texas, Dec. 12, 2013 /PRNewswire/ -- Solera Holdings, Inc. ("Solera", "we" or "our") (NYSE: SLH), a leading global provider of software and services to the automobile insurance claims processing and decision support industries, today announced that one of its subsidiaries has signed a definitive agreement to acquire 100% (the "Acquisition") of Distribution Services Technologies, Inc. ("DST"). The Acquisition is subject to certain conditions to closing and is expected to close by the third quarter of Solera's fiscal year 2014.
DST is a leading provider of B2B e-Commerce, ERP support and analytics solutions for automotive mechanical part distributors in North America. Through its cloud-based procurement solutions, DST connects mechanical aftermarket, heavy duty and OEM parts suppliers with repair shops, dealerships and fleet consumers, driving revenues and lowering operating costs.
"Strengthening our parts platform is a valuable component of our Mission 2020 strategy. The DST acquisition expands our parts strategy to now cover mechanical parts and will connect directly to both our Insurance Claims and Service Maintenance Repair platforms to reduce cycle time and create industry-leading accuracy in part selection," said Tony Aquila, Solera's Founder, Chairman and Chief Executive Officer. "The combination of DST's mechanical parts expertise with our Hollander and APU businesses represents a significant step forward in expanding our parts platform to serve both the mechanical and collision markets in North America and beyond."
Solera is a leading global provider of software and services to the automobile insurance claims processing and decision support industries. Solera is active in over 65 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 Solera's website at http://www.solerainc.com.
Cautions about Forward-Looking Statements
This press release contains forward-looking statements, including statements about: the expected timing for completion of the Acquisition; the benefits of the Acquisition, including Solera's market position and growth in North America; the benefits and value of DST's products and services to customers, either alone or in conjunction with the products and services of Service Repair Solutions, Hollander or other Solera products and services; and Mission 2020. 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: the Acquisition may not be completed; the failure to realize the expected benefits of the Acquisition; risks associated with and possible negative consequences of acquisitions, investments, joint ventures (including our Service Repair Solutions joint venture) and similar transactions, including successfully integrating DST's products and services with or into Service Repair Solutions, Hollander or other Solera offerings; risks associated with the uncertainty in and volatility of global economic conditions; continued adoption of DST's, Service Repair Solutions's, Hollander's and Solera's products and services; our and DST's reliance on a limited number of customers for a substantial portion of our and DST's revenues; effects of changes in or violations by us or our customers of government regulations; effects of competition on our product and service pricing and our business; our ability to obtain additional financing as necessary to support our business or operations, including Mission 2020; risks associated with operating in multiple countries, including regulatory, political and exchange rate risks; rapid technology changes in our industry; 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, 2013. 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.