Solera Holdings has acquired 100 percent of the equity interests of IBS Automotive s.r.o. IBS is a provider of vehicle valuation data in the Czech Republic and Slovakia.
IBS partners with insurance companies in the Czech Republic and Slovakia to help establish vehicle valuation at the claim stage. It is also used 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,” says Tony Aquila, Solera’s founder, chairman and CEO. “IBS data will allow our customer’s customers to make informed decisions regarding their automotive assets based upon total cost of ownership.”