Solera Holdings, Inc., a global provider of software and services to the automobile insurance claims processing industry, announced that it has acquired 100 percent of the outstanding shares of Mensaelect S.A.
Mensaelect’s proprietary, web-based product streamlines the invoicing process between Spanish body shops and insurers and provides body shops with faster, more efficient payments from insurance companies. Currently used by more than 14,000 repair shops located throughout Spain, the Solera companies will leverage Mensaelect’s capabilities and client portfolio to extend the power and reach of the Spanish core platform.
“The Acquisition represents another significant investment in enhancing our platform for the Spanish market. Prior acquisitions of AUTOonline and Sinexia, as well as our increased investments in our next generation platform and its cloud computing capabilities, have expanded our core offerings and strengthened our leadership role in Spain. Our acquisition of Mensaelect demonstrates our continued commitment to our customers and our growth in Spain despite the challenging macro environment. We are also very excited to do our part to help the Spanish economy as we continue to create more opportunities for development for our associates in this important market,” said Tony Aquila, Solera’s founder, chairman and chief executive officer. “Mensaelect’s solution delivers significant value to our insurance customers by simplifying their administrative processes and work flow. Mensaelect’s ability to enhance the effectiveness of the invoicing process is consistent with our track record of providing high-value products and services and creates a win-win for our insurance and body shop customers.”
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