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Solera to buy PS Holdings

IBR Staff Writer Published 13 July 2012

Solera Holdings, a provider of software and services to the automobile insurance claims processing industry, has agreed to acquire PS Holdings to improve its cloud-based parts locating capabilities.

US-based PS Holdings, also called APU is a cloud-based locator of recycled, aftermarket, reconditioned and surplus original equipment parts for the vehicle repair industry.

Solera founder chairman and chief executive officer Tony Aquila said the acquisition represents an important milestone in the company's ongoing effort to provide its customers with software applications and decision support tools that facilitate electronic vehicle parts trading.

'' APU links the demand for parts channeled through our core estimatics with the supply of parts in the collision repair chain, driving additional value to our customers," Aquila added.

"APU will build on and extend the part procurement capabilities we deliver through our Audatex and Hollander businesses in the USand abroad.''

Subjected to certain regulatory conditions, the transaction is expected to close in the first quarter of 2013.