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Audatex Press Release
Solera and GTCR Complete Acquisition of Audatex
— Acquisition Positions Solera as the Only Global Claims Services Provider —
SAN DIEGO, Calif. — April 13, 2006 Solera, Inc., a provider of technology solutions, shared services and consulting for the insurance and claims industries, and GTCR Golder Rauner, a leading private equity firm, today announced that they have completed the acquisition of Audatex from Automatic Data Processing, Inc. (NYSE:ADP). In the deal, Solera acquired operating companies that employ over 2,000 associates in 31 countries and have a global network of over 50,000 customers.
"Audatex is the only global provider of claims solutions," said Tony Aquila, Chairman and CEO. "Our market leadership position, coupled with our associates' unequaled industry expertise, enables us, through Audatex and the other Solera companies, to now deliver a unique offering of technology, consulting and shared services."
Aquila continued, "Audatex's global presence, supported by Solera's rigorous data analytics and six sigma process discipline, will enable us to identify successful processes from around the globe and to tailor them to benefit our customers in other Audatex local markets."
"Worldwide, Audatex invests over 50% more in product development than our nearest competitor. We are committed to extending our position as the global innovation leader in the insurance and claims industries," concluded Aquila.
Solera, through Audatex and the other Solera companies, provides a complete range of technology solutions, shared services and consulting for the insurance and claims industries. The company's unique approach to the market focuses on optimizing customer satisfaction and on improving claims process efficiency. Solera enables carriers to delight their customers by shortening cycle times, reducing loss adjustment expense, and improving control.
"We are very excited by the opportunities this acquisition creates," commented Philip A. Canfield, GTCR Principal. "We believe that Tony and the combined team have the vision, industry expertise, and passion to create unequaled value for Audatex customers throughout the globe."
"The closing of the Audatex acquisition from ADP represents the end of a long process for Solera and GTCR, and the beginning of a new and exciting chapter for this market leading franchise," stated GTCR Principal Craig Bondy. "The transaction has been extremely well received by customers, employees, and financial partners. We see outstanding opportunity in the future for Solera."
The Solera companies include Audatex in the US, Germany, UK, Spain, Canada, and in over twenty additional markets, together with Informex in Belgium, Sidexa in France, ABZ in The Netherlands and Hollander serving the US recyclers market.