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Solera Holdings, Inc. Repurchases Minority Stake in Audatex Spain
Apr 05, 2011 (03:04 PM EDT)
DALLAS, April 5, 2011 /PRNewswire/ -- Solera Holdings, Inc. (NYSE: SLH), the leading global provider of software and services to the automobile insurance claims processing industry, today announced it has repurchased 15% of the outstanding shares of Audatex Spain, Solera's Spanish operating company, from Nacional de Reaseguros S.A., one of Spain's largest reinsurance companies.
"I am grateful to Nacional de Reaseguros and especially to its chairman, Jose Ruiz, for their long-standing relationship with us. While Nacional de Reaseguros is not a direct customer, its support over the years has been very important in helping us develop the Spanish market. I very much look forward to Jose's continued participation on Audatex Spain's Board of Directors throughout our next fiscal year. The purchase of Nacional de Reseguros' shares will allow us increased flexibility to continue to provide our high-value solutions and services to our customers," said Tony Aquila, Solera's founder, chairman and CEO.
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 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, and IMS providing medical review services. For more information, please refer to the company's website at http://www.solerainc.com.
SOURCE Solera Holdings, Inc.