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Automotive valuations expert Cap has been acquired by automotive software firm Solera Holdings for $464m (£295m)
US-based Solera describes itself as the leading global provider of software and services for the automobile claims processing industry, and bought Cap from Montagu Private Equity which had owned the RV-predicting giant since 2012, when it bought the firm for an undisclosed fee, thought to be between £150-£250m.
According to Solera's website it serves over 165,000 customers including 4000 automobile insurance companies, 60,500 collision repair facilities, 12,500 independent assessors, 44,500 service, maintenance and repair facilities and 43,500 automotive
Solera also owns UK car history checking service HPI, which it acquired in 2008 and is active in more than 70 countries worldwide.
"Cap's data, risk and asset management expertise, and dedication to enabling informed customer decisions makes us a natural fit in the Solera family," said Ian Rendle, Cap Automotive CEO. "In taking this exciting step, I am most excited by the opportunities it will bring for our customers."
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