FALLS CHURCH, Va.--(BUSINESS WIRE)--Altegrity, Inc., the parent company of leading employment screening and investigative services providers, and Solera Holdings, Inc. (NYSE: SLH), a leading global provider of software and services to the automobile insurance claims processing industry, today announced that pursuant to the terms of a definitive purchase agreement, Solera will acquire Explore Information Services, LLC, a premier provider of database insurance technologies and e-government applications, from Altegrity in an all-cash transaction valued at approximately $520 million.
The transaction, which is expected to close in Altegrity’s fourth fiscal quarter ending Sept. 30, 2011, is subject to customary closing conditions.
Altegrity is principally owned by Providence Equity Partners, a global private equity firm specializing in equity investments in media, entertainment, communications and information companies. BofA Merrill Lynch acted as financial advisor, and Debevoise & Plimpton LLP served as legal counsel to Altegrity.
About Altegrity, Inc.
Altegrity, Inc., is the parent company of the largest commercial provider of background investigations for the federal government; the world’s leading risk consulting company that provides a broad range of investigative, intelligence, financial, security and technology services to organizations and multinational corporations around the world; a global commercial employment background and drug screening supplier to more than one-third of the Fortune 500; and one of the principal providers of data services to the insurance industry. Headquartered in Falls Church, Va., Altegrity has approximately 11,000 employees in 30 countries. Altegrity, which is the holding company for USIS, Explore Information Services, HireRight and Kroll, partners with its government and commercial clients to help them Make Decisions SmarterSM by uncovering, reviewing, analyzing and delivering information. [www.altegrity.com]
About Solera Holdings, Inc.
Solera is the leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in over 50 countries across six continents. The Solera companies include Audatex in the United States, Canada, and in more than 45 additional countries, Informex in Belgium, Sidexa in France, ABZ and Market Scan in the Netherlands, HPI in the United Kingdom, Hollander serving the North American recycling market, AUTOonline providing salvage disposition in a number of European and Latin American countries, and IMS providing medical review services. For more information, please refer to the company's website at http://www.solerainc.com.