Solera Holdings, Inc. and Founder/CEO Together Contribute Largest Donation Ever Received by I-CAR Education Foundation

Published on Wednesday, 08 September 2010 08:48 Written by TradersHuddle Staff

$100,000 Contribution Dedicated to Scholarships and Comprised of $50,000 from Solera and $50,000 from Solera's Founder and CEO, Tony Aquila

SAN DIEGO, Sept. 8 /PRNewswire/ -- Solera Holdings, Inc. (NYSE: SLH), the leading global provider of software and services to the automobile insurance claims processing industry, today announced a $100,000 combined cash contribution to the I-CAR Education Foundation, a not-for-profit organization and  industry-leading foundation that provides support to secondary and post-secondary technical schools' collision programs and their students. This $100,000 contribution, comprised of a $50,000 donation from Solera and a matching personal $50,000 donation from Solera's founder and CEO Tony Aquila, is the largest cash donation ever received by the not-for-profit organization.  It is earmarked primarily to provide scholarships and grants for students aspiring to establish a career in the automotive industry.  

"We are proud to do our part and support the Education Foundation's mission to help arm tomorrow's workforce with the tools and the talent they need to raise the bar in the automotive industry," said Tony Aquila, founder and CEO of Solera, a supporter of the Foundation.

"I am extremely grateful for my success in this industry, and we are committed to giving back both through Solera's corporate giving efforts as well as my personal donation," Aquila added.

An industry entrepreneur, Aquila began working during his teenage years sweeping floors in his uncle's auto body shop.  He is now the founder and CEO of a company that is the leading global provider of software and services to the automobile insurance claims processing industry. Solera recently announced a strategic growth plan for its newly aligned "HEMI" group that includes targeted investments of approximately $150 million. The "HEMI" group includes Solera's businesses in the United States, the Netherlands and Canada.

"This $100,000 combined contribution marks a new era of corporate support for the Education Foundation. With help from Solera and Tony Aquila, we can assist aspiring students to achieve their educational and career goals and better prepare them for the workplace," said the Education Foundation's Executive Director Scott Kruger. "We believe Solera's leadership and generosity will inspire other companies to step up as well," he added.

About Solera

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 and Greece, 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.

About I-CAR Education Foundation

The I-CAR Education Foundation, founded in 1991, is a not-for-profit organization dedicated to securing donations that support philanthropic and collision repair education activities that promote and enhance career opportunities in the industry.        

Cautions about Forward-Looking Statements

This press release contains forward-looking statements, including statements about our investment plans for the HEMI group, including the targeted aggregate investment amount. These statements are based on our current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: risks associated with and possible negative consequences of acquisitions, joint ventures, divestitures and similar transactions, including our ability to successfully integrate our acquired businesses; costs and possible future losses or impairments relating to our acquisitions; the financial impact of future significant restructuring and severance charges; our ability to obtain additional financing as necessary to support our operations or our planned investments in the HEMI group; and our dependence on a limited number of key personnel, including newly appointed personnel who will manage the HEMI group. For a discussion of these and other factors that could impact our operations or financial results and cause our results to differ materially from those in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, particularly our Annual Report on Form 10-K for the Fiscal Year Ended June 30, 2010. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

SOURCE Solera Holdings, Inc.