April 4, 2011 — Solera Holdings, Inc., which provides software and services to the auto insurance claims processing industry, recently announced the purchase of Inventory Technology Systems (ITS), a provider of parts management software for salvage yards.
The combination of Solera and ITS technologies is ultimately expected to create tighter collaboration between the insurance, collision repair and recycling industries, according to a Solera press release_notes. The acquisition, made by Solera’s parent company, Hollander, is expected to close in the fourth quarter of fiscal year 2011.
Hollander specializes in salvage yard management systems and parts locating software for the automotive recycling industry in the U.S. and Canada. Implementing ITS products in the nearly 7,000 recycling yards in North America should help Hollander deliver a system that manages the key steps in the auto parts recycling process, the press release said.
Tony Aquila, Solera’s founder, chairman and CEO, said the investment allows the company to “continue to leverage leadership in the automotive recycling community for the benefit of all constituents in the automotive claims process.”
For more information on Solera, go to solerainc.com.
