Solera Holdings Exploring Strategic Alternatives
August 20 2015 - 2:40PM
Dow Jones News
Solera Holdings Inc., a provider of software to the
automobile-claims-processing industry, said Thursday that it is
exploring strategic alternatives.
Solera said it has formed a special committee, which has
retained Centerview Partners LLC as a financial adviser and
Sullivan & Cromwell as its legal adviser. The company noted
that there is no assurance that the review will result in a
transaction.
Shares of the Westlake, Texas, company fell 3.1% to $47.14 a
share in afternoon trading.
Solera is home to brands such as Audatex, CarweB, and
AUTOonline, serving customers that include car-insurance companies,
collision-repair facilities and independent assessors. Tesla Motors
Inc., for example, uses Solera's software to process
collision-repair estimates and insurance claims at its
collision-repair centers.
Solera has been acquisitive recently, buying four companies so
far this year. The company has been working to expand into other
vehicle-related areas such as glass repair and electronic titling,
while also bringing its software to property-claims management.
Earlier this month, Solera closed on its deal for
Netherlands-based Autodata B.V., which provides vehicle valuation
and inventory management for automotive dealers and leasing
companies.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 20, 2015 14:25 ET (18:25 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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