Solera acquires majority stake in Spanish claims software firm
Dec. 13, 2011—Solera Holdings Inc., a provider of software services to the automobile insurance claims processing industry, on Monday announced it signed definitive agreements to acquire a majority of capital shares of Sinexia Corporacion Tecnologica, a Spanish claims software firm.
The agreements provide Solera with the right to purchase up to 100 percent of Sinexia's outstanding capital shares, according to Solera.
Sinexia's APCAS data software is an application for processing property and casualty insurance claims in Spain, Solera said. Assessors and insurers use Sinexia's Web-based applications to more efficiently connect, assess and process automobile and residential property claims, and share all related files.
"Utilizing Sinexia's software platform and applications in our Spanish operations will allow us to provide greater value to our assessor and insurance company customers by offering additional, high-ROI services in Spain, an important market for Solera," said Tony Aquila, founder, chairman and CEO of Solera. "Further, the investment provides an efficient way to enhance our current technology."
Solera said it provides software services to the automobile insurance claims processing industry in nearly 60 countries. The Solera companies include: Audatex, Informex, Sidexa, ABZ, Market Scan, HPI, AUTOOnline, Hollander, Explore and IMS.
For more information, visit solerainc.com.