Search
 

CCC, Mitchell Merger on the Rocks?

Claims News Service, Nov. 26, 11:49 a.m. EST -- A complaint issued by the Federal Trade Commission (FTC) is threatening to scuttle a merger between two companies that provide electronic systems used

By Eric Gilkey | Updated on November 26, 2008

Claims News Service, Nov. 26, 11:49 a.m. EST — A complaint issued by the Federal Trade Commission (FTC) is threatening to scuttle a merger between two companies that provide electronic systems used in estimating auto collision damages.CCC Information Services, Inc., and Mitchell International, Inc., announced merger plans back on April 11, 2008. The deal, which was described as a “merger of equals,” was valued at $1.4 billion. Together, CCC-Mitchell hoped to become a leading provider of information, workflow management systems, and integrated software to insurance companies and collision repair facilities. The companies estimated that, at its inception, they would have annual sales of approximately $460 million and approximately 2,000 employees.

However, a release issued on Nov. 26 by the FTC claims that the merger would obstruct competition in the market, including estimates for the cost of collision repairs, also known as “estimatics,” and software systems used to value totaled vehicles, or total loss valuation (TLV) systems.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.