Solera Holdings Exploring Strategic Alternatives

Solera Holdings Inc., a provider of software to the automobile-claims-processing industry, said Thursday that it is exploring strategic alternatives.

Solera said it has formed a special committee, which has retained Centerview Partners LLC as a financial adviser and Sullivan & Cromwell as its legal adviser. The company noted that there is no assurance that the review will result in a transaction.

Shares of the Westlake, Texas, company fell 3.1% to $47.14 a share in afternoon trading.

Solera is home to brands such as Audatex, CarweB, and AUTOonline, serving customers that include car-insurance companies, collision-repair facilities and independent assessors. Tesla Motors Inc., for example, uses Solera's software to process collision-repair estimates and insurance claims at its collision-repair centers.

Solera has been acquisitive recently, buying four companies so far this year. The company has been working to expand into other vehicle-related areas such as glass repair and electronic titling, while also bringing its software to property-claims management.

Earlier this month, Solera closed on its deal for Netherlands-based Autodata B.V., which provides vehicle valuation and inventory management for automotive dealers and leasing companies.

Write to Chelsey Dulaney at [e-mail]

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(END) Dow Jones Newswires

August 20, 2015 14:25 ET (18:25 GMT)

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