Solera Holdings Inc. has agreed to purchase the remaining shares of Identifix, a company offering cloud-based vehicle-service, maintenance and repair technology. Solera is a technology company offering risk and asset management software and services to P&C insurers and the automotive and property marketplace.
Solera purchased half of the company in November 2013 in a joint venture with Welsh Carson Anderson & Stowe. Solera will purchase the remaining interests for $594.8 million in cash, plus investment company Welsh Carson Anderson & Stowe’s approximate share of SRS's present cash balance, which share is $25,000,000. Solera has expanded its market presence through acquisitions, including AutoPoint, acquired in April 2014, Service Dynamics and DMEautomotive. Solera's SMR platform covers more than 50,000 rooftops and is used by more than 275,000 auto technicians to process more than one million SMR events each week.
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