Solera Holdings, Inc. Buyback
OLI recorded this information on 11/20/2014
Solera Holdings, Inc.
Solera Holdings, Inc. ("Solera," the "Company," "our" or "us") (NYSE: SLH) today announced that its Board of Directors has approved a new $375 million common stock repurchase program effective through December 31, 2016. This program opens additional repurchase alternatives, enabling the Company to, from time to time, purchase shares of common stock through an accelerated stock purchase agreement, on the open market or in privately negotiated transactions. The Company expects to fund the repurchases through cash on hand and future cash flow from operations. The program has been structured to support the Company's practice of offsetting dilution associated with stock-related incentives as well as to provide greater flexibility for more significant opportunistic purchases, as market conditions and capital allocation alternatives permit.
Solera Holdings is a provider of risk and asset management software and services to the automotive and property marketplace, including the property and casualty insurance industry. As of June 30 2015, Co. operated three platforms - Auto, whereby Co. facilitates collision repair, vehicle maintenance and repair, glass repair, vehicle salvage and parts procurement; Customer's Customer, which consists of Co.'s vehicle insurance re-underwriting, electronic tilting, subrogation and vehicle validation businesses; and Property, in which through the use of Co.'s products and services, Co. can deliver standardization and transparency to the property repair process.
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Hold (1.75 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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