Sherman & Company Holdings Served as Financial Advisor to Injury Sciences LLC
Transaction expected to close by end of year
Chicago, IL and San Antonio, TX December 14, 2012 – CCC Information Services Inc. announced today that it has signed a definitive agreement to acquire Injury Sciences LLC, the leader in providing insurance carriers with scientifically based analytic tools to help identify fraudulent and exaggerated injury claims associated with automobile accidents. CCC is the nation's leading provider of advanced software and workflow tools to the insurance automotive claims and collision repair industries.
"Injury Sciences is the pioneer of injury causation technology and we are thrilled that they will become part of the CCC family," said Githesh Ramamurthy, Chairman and CEO of CCC. "With their addition, CCC will be able to leverage the synergy between the most advanced scientific software for the analysis of vehicle damage and related auto injury claims with the largest auto claims database in the United States. This is a tremendous opportunity to further advance our market-leading position in predictive analytics."
Scott Palmer, President and CEO of Injury Sciences said, "We are extremely excited about the opportunity to be a part of CCC. For many years, CCC has uniquely shared our vision of scientifically leveraging auto physical damage analysis to proactively deter the high cost of fraudulent injury claims. The combination of the two companies has significant benefits for our customers including enhanced solutions through an exponential increase in access to collision data and tight integration with the CCC workflow platform. We see this acquisition as a natural fit that will only strengthen the solutions we both provide to the auto insurance industry."
Terms of the transaction were not disclosed.
About CCC Information Services Inc.
CCC brings together what matters most - insight to make the best decisions, connections into the largest auto claims network and superior productivity through an innovative single platform. Founded in 1980, CCC is the nation's leading provider of advanced software, workflow tools and enabling technologies to the automotive claims and collision repair industries. Its client base includes more than 350 insurance companies and more than 21,000 repair facilities. CCC also delivers the most comprehensive, best-in-class industry insights by leveraging data captured from the millions of transactions processed through its network, and the forward-looking, trusted advisor perspective of its people. You can find out more about CCC Information Services Inc. by visiting the company's web site at www.ccc.cccis.com.
About Injury Sciences LLC
Injury Sciences LLC is headquartered in San Antonio, Texas, and is the leader in software and services which provide claims professionals with objective, scientific information for use in the evaluation of an auto claim. Injury Sciences' software and services are the result of over 20 years of research and analysis of vehicular collisions and injury outcomes. Injury Sciences' team of leading forensic scientist has conducted extensive research regarding human response to auto collision events. Many of these studies have been published in peer-reviewed scientific publications and are internationally recognized and referenced in the scientific community. Injury Sciences software and services are currently used by more than 50 different insurance carriers.