Solera Holdings, Inc. Announces Investment in Audatex Japan Ltd.
Acquisition of Licensee Shares Further Solidify Commitment in Japanese and Broader Asian Markets
SAN DIEGO, CA – September 26, 2007 -- Solera Holdings, Inc. (NYSE: SLH, "Solera"), a leading global provider of software and services for the automobile insurance claims processing industry, today announced that it has made an equity investment in Audatex Japan, Ltd., its Tokyo, Japan-based licensee. The companies intend to share database and application development technology that will position both organizations to deliver even greater value to their customers given the significant changes taking place in the global automotive market.
Significant changes, including the increasing number of manufacturers and the rapid growth of new vehicle makes and models in the global automotive market, are making the process of settling auto claims even more complicated. This is putting greater demand on information providers to deliver expanded database coverage and more comprehensive service offerings for insurance companies, automobile manufacturers and their trading partners. Japanese auto manufacturers are becoming increasingly critical players across the globe, and Toyota and Honda are now among the top five manufacturers in the world.
“This investment strengthens Solera’s ties not only with Audatex Japan, but also with the leading Japanese auto manufacturers and insurance carriers,” explained Tony Aquila, Solera’s founder, chairman and CEO. “Solera will utilize our global market presence and databases and work closely with the Japanese automobile manufacturers to help them better understand the repairability, insurability and total cost of ownership of their vehicles. In addition, we will support our new Japanese insurance carrier partners by offering standardized data across multiple countries in which they do business.”
“We are pleased with the commitment Solera has made to Audatex Japan,” explained Masuharu Nakamura, director of Audatex Japan and retiring CEO. “With our understanding of the Japanese and broader Asian markets, along with Solera’s application technology and trading platform, we can offer our customers a solution that delivers even greater value and is unparalleled in the industry.”
Terms of the deal were not released.
About Solera
Solera is the leading global provider of software and services for the automobile insurance claims processing industry. Solera has operations in 49 countries across 5 continents. The Solera companies include Audatex in the United States, Canada, and in more than 35 additional countries, Informex in Belgium, Sidexa in France, ABZ in the Netherlands, Hollander serving the North American recycling market, and IMS providing medical review services. For more information, please refer to the Company’s website at www.solerainc.com.
This press release contains forward-looking statements, including statements about business outlook and strategy that may suggest trends in our business. These statements are based on estimates and information available to us at the time of this press release and are not guarantees of future performance. There may be other factors that may cause our actual results to differ materially from those suggested by these forward-looking statements. Our actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. We can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on our results of operations and financial condition. You should carefully read the factors described in the "Risk Factors" section of our filings with the Securities and Exchange Commission for a description of certain risks that could, among other things, cause our actual results to differ from these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.