WESTLAKE, Texas, April 22, 2015 /PRNewswire/ -- Solera Holdings, Inc. ("Solera", "our" or "we") (NYSE: SLH), a leading provider of risk and asset management software and services to the automotive and property marketplace, including the global P&C insurance industry, today announced that it has signed an agreement to acquire DMEautomotive, LLC ("DMEa"), a leader in data-driven customer retention and marketing solutions for the retail automotive industry.
DMEa's content-driven software and individualized communication tools enable automotive sales, service and repair providers to partner with their customers in vehicle management. Combining DMEa's proprietary technologies with Solera's existing portfolio will enable Solera's customers to increase customer retention and drive loyalty through tailored and frequent digital contact across the entire automotive ownership lifecycle.
DMEa will join a series of strategic Solera investments in Service, Maintenance and Repair ("SMR") capabilities with companies like Identifix, AutoPoint and Service Dynamics. In less than two years, Solera will have assembled a network of assets that serves over 1 million SMR events every week. With DMEa, Solera's SMR data will cover 40% of the US car parc and over 40% of US households, including nearly 100 million unique owner-vehicle relationships.
"The acquisition of DMEa is very exciting for us as it will further enrich our understanding of our customers' customers on a personalized and household level," said Tony Aquila, Solera's founder, Chairman and Chief Executive Officer. "When combined with Solera's vertical software solutions (SaaS) across the entire automotive lifecycle, this data will create powerful digital content to enhance the ownership experience and strengthen the relationship and transparency between our customers and their customers, resulting in a smoother ride through the ownership lifecycle via technology accessed on any device."
The acquisition of DMEa is subject to certain closing conditions, including Hart-Scott-Rodino anti-trust clearance, and is expected to close in the fourth quarter of Solera's fiscal year ending June 30, 2015.
Solera is a leading provider of risk and asset management software and services to the automotive and property marketplace, including the global P&C insurance industry. Solera is active in over 70 countries across six continents. The Solera companies include: Audatex in the United States, Canada, and in more than 45 additional countries; HPI, CarweB and CAP Automotive in the United Kingdom; Informex in Belgium and Greece; Sidexa in France; ABZ and Market Scan in the Netherlands; 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; Explore providing data and analytics to United States property and casualty insurers; Service Repair Solutions, a joint venture with Welsh, Carson, Anderson & Stowe, that provides solutions for the service, maintenance and repair market; and I&S, a provider of software and business management tools, third-party claims administration, first notice of loss and network management services to the U.S. auto and property repair industries, specializing in glass claims. 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: the benefits of the acquisition of DMEa (the "Acquisition"), including but not limited to the expansion of our SMR platform and digital garage strategies to provide products and services throughout the vehicle lifecycle and to the household; and the benefits and value of products and services (including but not limited to return on investment) to Solera's and DMEa's customers, either alone or in conjunction with the products and services of other Solera group companies, including data coverage and the ability to access these products and services on any device. 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 transactions of this nature, our business and DMEa's 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 and similar transactions; successfully integrating DMEa's solutions with or into other Solera group offerings, including but not limited to, AutoPoint; continued adoption of DMEa's, AutoPoint's and the Solera group's products and services; effects of competition on product and service pricing and DMEa's, AutoPoint's and the Solera group's business; our ability to obtain additional financing as necessary to support our business or operations; 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 December 31, 2014. 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.
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SOURCE Solera Holdings, Inc.
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