Ccc Information Services (NASDAQ:CCCG)
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CCC Information Services Group Inc. (Nasdaq:CCCG), a
leading supplier of advanced software, communications systems,
Internet and wireless-enabled technology solutions to the automotive
claims and collision repair industries, announced that, at a special
meeting held today, the Company's stockholders voted to adopt the
merger agreement with entities affiliated with Investcorp, a global
investment group. The merger is anticipated to be completed on Friday,
February 10, 2006, subject to the satisfaction of closing conditions.
The terms of the merger are governed by the Agreement and Plan of
Merger dated as of September 21, 2005 by and among CCC, Cougar
Holdings, Inc. and its wholly owned subsidiary, Cougar Merger Sub,
Inc. CCC common stockholders will be entitled to receive $26.50 in
cash, without interest for each share of common stock in the merger.
Holders of Series F Preferred Stock will be entitled to receive $1.00
in cash, plus accrued and unpaid dividends, if any, without interest,
for each share of Series F Preferred Stock in the merger.
About CCC
CCC Information Services Group Inc. (NASDAQ:CCCG), headquartered
in Chicago, is a leading supplier of advanced software, communications
systems, Internet and wireless-enabled technology solutions to the
automotive claims and collision repair industries. Its
technology-based products and services optimize efficiency throughout
the entire claims management supply chain and facilitate communication
among approximately 21,000 collision repair facilities, 350 insurance
companies, and a range of industry participants. For more information
about CCC Information Services, visit CCC's Web site at www.cccis.com.
About Investcorp
Investcorp is a global investment group with offices in London,
New York and Bahrain. The firm has four lines of business: corporate
investment, real estate investment, asset management and technology
investment. It was established in 1982 and has since completed
transactions with an aggregate value of approximately $28 billion. In
Europe, Investcorp and its clients currently own corporate investments
that include Polyconcept, APCOA, Hilding Anders and Minimax. In the
United States, Investcorp and its clients currently own corporate
investments that include American Tire, Associated Materials and
SourceMedia. Further information is available at www.investcorp.com.
Certain statements in this communication, including statements
regarding the proposed merger, are forward-looking and may involve a
number of risks and uncertainties. Certain factors that could cause
actual events not to occur as expressed in the forward-looking
statements include, but are not limited to, the failure to satisfy
various conditions contained in the merger agreement. Other risks and
uncertainties concerning CCC's performance are set forth in reports
and documents filed by CCC with the SEC from time to time. Please use
caution in placing reliance on forward-looking statements. CCC has
based these forward-looking statements on information currently
available and disclaims any intention or obligation to update or
revise any forward-looking statement.