Solera Holdings To Buy Pusula Otomotiv

(RTTNews) - Solera Holdings, Inc. (SLH) said Monday that one of its subsidiaries has signed a definitive agreement to acquire 100% of the equity interests of Pusula Otomotiv.

The acquisition is expected to close in the first quarter of Solera's fiscal year 2014.

Pusula is a provider of vehicle disposition and titling services in Turkey. Pusula's proprietary web platform connects buyers, including total loss vehicle resellers, repair shops and spare parts recyclers, with sellers, insurers and fleet companies that seek to auction total loss vehicles. Pusula is also the only online automotive auction company in Turkey that has established an in-house title transfer capability, enhancing the value of its services to its customers.