Solera Holdings (SLH), a provider of software and services to the automobile insurance claims processing and decision support industries, said Monday that it has signed an agreement to acquire claims-related products and related intellectual property from the Sherwood group of companies.
The business to be acquired is a provider of innovative exchanges, settlement platforms, and data analytics focused on the insurance industry in the U.K., including car rental billing services and pet insurance claims.
The acquisition, which will be done through a series of transactions, is expected to close in Q4 of SLH’s fiscal year ending June 30, 2014.
Financial terms were not disclosed.
Shares are up 1.14% at $66.26 with a 52-week range of $50.39 – $71.15.
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