Solera Holdings has signed a definitive agreement to acquire sachcontrol, a move representing its most significant investment in strengthening its property claims platform.
Solera Holdings, Inc., a leading global provider of software and services to the automotive insurance claims processing and decision support industries, today announced that it has signed a definitive agreement to acquire sachcontrol AG, a property claims business based in Dresden, Germany. The acquisition is subject to certain closing conditions and is expected to close in the fourth quarter of Solera’s fiscal year ending 30 June 2014.
sachcontrol is a leading property claims management provider in Germany. By comparing property repair invoices against its proprietary database of standardized market prices for materials, labour and repair processes, sachcontrol is able to reduce severity costs for its insurance customers. sachcontrol’s database contains millions of data points, localized by postal code covering thousands of repair steps across multiple building trades.
“This acquisition represents our most significant investment yet in strengthening our property claims platform and further extends our reach into the household in Germany and Austria,” said Tony Aquila, Solera’s founder, Chairman and Chief Executive Officer. “sachcontrol will provide leverage to our joint customers by increasing the returns we deliver to them through both high-value auto and property solutions. Working with sachcontrol’s management, we see an exciting opportunity to leverage Solera’s global footprint to bring sachcontrol’s property solutions to new geographies over time.”