SAN DIEGO, Jan. 26 /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 signed a definitive agreement to acquire 100% of the outstanding shares of Softwaresysteme GTLDATA GmbH ("GTLDATA"). GTLDATA is the leading assessor management system provider in Austria and has been a business partner with Solera's Austrian operating company for over ten years. GTLDATA provides assessors tools to more efficiently assess, organize and communicate automobile claims data with insurance companies in Austria. The transaction is subject to certain conditions to closing and is expected to close in the third quarter of Solera's fiscal year 2010.
"We are excited about the accomplishments already achieved by the GTLDATA team in Austria. Combining our operations in Austria with GTLDATA will allow us to provide greater value to assessors, insurance companies and collision repair shops by offering additional products and services and increases our investment in Austria, an important market for Solera," said Tony Aquila, Solera's Chairman and Chief Executive Officer.
"Integrating GTLDATA's front-end application and communications platform used by assessors with Audatex Austria's industry-leading databases and applications will allow our companies to better serve the market. We are enthusiastic about the pending acquisition and look forward to contributing to Solera's continued growth," said Franz Leitner, GTLDATA's Managing Director.
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 in The Netherlands, HPI in the United Kingdom, Hollander serving the North American recycling market, AUTOonline providing salvage disposition in a number of European countries and Mexico, 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 enhancements to our products and services, our future growth and GTLDATA's contributions to our future growth. 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 to transactions of this nature and our business, including, without limitation: we may not complete our acquisition of GTLDATA; the failure to realize the expected benefits from our acquisition of GTLDATA; our inability to successfully integrate GTLDATA's business, including GTLDATA's existing employees, customers, infrastructure and service offerings, with our existing business at reasonable cost, or at all; unpredictability and volatility relating to foreign currency exchange risks associated with our consolidated financial reports that include GTLDATA's operating results; impacts on GTLDATA's business of any restructuring or severance charges in future periods; and effects of system failures or security breaches on GTLDATA's 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, 2009. 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.