The Solera Holdings, Inc. (NYSE: SLH) board of directors has approved a new USD200m common stock repurchase program effective through November 10, 2015.
Shares of common stock may be purchased, from time to time, 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 new stock repurchase program replaces the company´s previous stock repurchase program. Through October 16, 2013, the company has repurchased 2,852,308 shares of its common stock under the previous stock repurchase program for an aggregate purchase price of approximately USD136.6m.
Solera is a leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in over 65 countries across six continents. Solera´s website at http://www.solerainc.com.