Solera Holdings Inc.Monday said it has acquired IBS Automotive s.r.o, a provider of vehicle valuation data in the Czech Republic and Slovakia. Financial terms of the deal were not disclosed.
IBS's data-driven solutions are used by insurance companies in the Czech Republic and Slovakia to establish vehicle valuation at the claim stage and by banks and leasing companies during the loan approval process and to establish residual values.
"Vehicle valuation is an important input for vehicle purchase, insurance, financing and repair decisions. The Acquisition positions us to leverage our recently-acquired CAP Automotive assets and customer base and power new solutions," said Tony Aquila, Solera's founder, Chairman and Chief Executive Officer.