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SAN DIEGO, CA — January 17, 2008 — Solera Holdings, Inc. (NYSE: SLH), the leading global provider of software and services for the automobile insurance claims processing industry, will ring the Opening Bell of the New York Stock Exchange (NYSE) today at 9:30 a.m. EST to commemorate the Company’s Founders’ Day and a landmark 2007.
2007 was a significant year for Solera—it completed an initial public offering and NYSE listing in May, raising $288 million net of underwriting fees. Just five months later, in October, Solera successfully finished a secondary offering of 18,131,435 shares. January 17 also marks the third anniversary of the Company’s 2005 inception by Tony Aquila, a veteran of the auto claims business. Solera teamed with private equity firm GTCR Golder Rauner and later acquired the Claims Services Group (CSG) of Automatic Data Processing, Inc. (ADP) in April 2006.
Since the acquisition, Solera has expanded into 16 new countries of operation and is now the only global provider of software and services for the automobile insurance claims processing industry active in 51 countries across six continents.
In addition to celebrating its landmark 2007, Solera will host three internal management meetings while in New York City this week—bringing together the Company’s domestic and international senior executives and managing directors to share best practices and discuss global trends and strategies.
Each day, Solera’s operating companies process nearly 100,000 claims around the world. In addition, their technology solutions are used to settle approximately $35 billion in claims annually. These operating companies include Audatex in the U.S., Canada and more than 45 additional countries, Informex in Belgium, Sidexa in France, ABZ in the Netherlands, and Hollander serving the North American recycling market.
Tony Aquila, founder, chairman and CEO of Solera Holdings, Inc. said, “We’re proud to celebrate our third anniversary and our landmark 2007 by participating in the NYSE’s long-standing tradition, the ringing of the Opening Bell. We’re even more excited for the future—as we recognize these accomplishments and now focus on moving our global strategy forward. However, there is still a lot left to achieve in this next phase. The Solera team is laser focused on our objectives, and we’re continuing to expand our international business presence and invest in our existing markets, products and services. We remain fanatical about our client relationships and firmly believe that we are in a great position to help insurers and collision repair shops simplify the automobile claims process with use of our platform in the 51 markets we currently serve—and, in doing so, assist them with better service to their policyholders by improving claims settlement efficiency and consumer satisfaction, which can help keep auto insurance costs competitive.”
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.
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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.
Contact:
Press Contact:
Paul Gange
Solera Holdings, Inc.
Paul.Gange@audatex.com
858-946-1751
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