Mr. Salfity: Audatex North America, Inc., is a member of the Solera Holdings, Inc., group. And Solera, which is traded on the New York Stock Exchange as SLH, 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, in the Netherlands; HPI, in the United Kingdom; Hollander, serving the North American recycling market; and AUTOonline, providing salvage disposition in a number of European countries and Mexico. Audatex North America is an automotive claims solutions provider focused on innovation and improvement for the vehicle claims processing industry. We serve insurers, collision repair facilities and automotive parts recyclers.
Audatex North America helps its customers in the value chain generate estimates and expedite claims processes in order to get damaged cars back out on the road as quickly as possible. Our software and database solutions enable insurers and collision repair shops to assess vehicle damages, and then manage and streamline the entire repair process, from the first notice of loss through the point the car is returned to the customer. After claims resolution, our analytics solution provides insurers and repairers the ability to evaluate their efficiency and identify areas for improvement. In the case where the car is totaled, a comprehensive vehicle valuation report is provided to the claims adjuster to enable him or her to quickly settle the claim.
The Audatex companies provide world-class claims solutions that help customers automate their processes, managing millions of claims each year efficiently and effectively, and resolving billions of dollars in claims settlements. The Audatex companies have the number one or number two market position in almost every market that we serve.
The Audatex brand has been around for over 40 years; it's a brand with deep heritage. Our business was a division of Automated Data Processing, Inc., for many years until Tony Aquila, our Chairman, CEO and Founder, in partnership with our founding private equity firm, secured the financing to buy the business from ADP. After Solera bought the business in April 2006, Solera closed its initial public offering in May 2007. Solera has been growing ever since.
One of our most important market differentiators is the Audatex North America intelligent database, which is one of the most comprehensive and widely accepted vehicle-specific databases in the collision repair market. More than 10,000 repair facilities and more than 200 insurers in North America rely upon it each day for accurate parts and labor information. On a worldwide basis, Solera invests more than US100 million into database, software and service development to ensure that we continue to offer customers the most current parts and labor intelligence available, and that includes access to recycled parts information.
The parts and repair data encompass everything from vehicles manufactured in the 1970s, to the new models just released to market. Having this depth of intelligence at their fingertips allows body shop estimators and insurance adjustors to know exactly which parts are damaged in an incident, how long it will take to repair or replace them, and how much it will cost.
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