Solera Holdings, a software and services provider to the automobile insurance claims processing industry, has signed definitive agreements to purchase a majority stake of Sinexia Corporacion Tecnologica.
Under the deal, Solera has the authority to purchase up to 100% of Sinexia’s outstanding capital shares.
The acquisition will further enhance Solera’s product and services offering in the Spanish Market.
The Web-based applications, developed by Sinexia, are used by assessors and insurers to more efficiently connect, assess, and process automobile and residential property claims and share all related files.
Solera founder, chairman and CEO Tony Aquila said utilizing Sinexia’s software platform and applications in their Spanish operations will allow them to provide greater value to their assessor and insurance company customers by offering additional, high-ROI services in Spain, an important market for Solera.
"Further, the investment provides an efficient way to enhance our current technology," Aquila said.