The US Federal Trade Commission (FTC) has closed an investigation into Solera Holdings’ acquisition of Actual Systems of America, Actual Systems UK, and Beech Systems, which is collectively called Actual Systems, without admitting any violation of the law.
In addition, Solera Holdings has agreed to enter into a consent order with the FTC related to the salvage yard management system business.
The move will affect a voluntary divestiture of the US and Canadian businesses of Actual Systems to a purchaser group, which includes the former shareholders of Actual Systems.
In May 2012, the company acquired Actual Systems, which is a global provider of premier parts recycling yard management systems that are sold under the brand name, "Pinnacle".
The Pinnacle software applications are used by sophisticated parts recycling yard operators to manage their daily operations and seamlessly trade recycled parts.
Actual Systems has successfully expanded beyond North America and forayed into Australia, the UK, the Netherlands, Ireland and Spain.
Solera Holdings is a provider of software and services to the automobile insurance claims processing industry. It is active in over 60 countries across six continents.