Solera Holdings will acquire data and analytics services provider, Explore Information Services for about $520 million. The auto insurance software company will receive a 15-year tax benefit with an estimated value of about $120 million. Goldman Sachs Bank USA and BofA Merrill Lynch will also offer unsecured bridge loans worth $350 million to backstop a portion of the purchase price. The acquisition will allow Solera to expand into underwriting, re-underwriting and analytics and decision-support software to help its clients better manage active risk.
Click here for the release from PR Newswire.