Infomedia Ltd (ASX:IFM) announced June 20 that it has received an offer from Solera Holdings LLC to acquire 100% of Infomedia for a price of AU$1.70 per share payable in cash that values the company at AU$638.8 million ($443 million).
Founded in 1987, Infomedia supplies solutions to the parts and service sector of the automotive industry including online parts selling systems, service quoting, data insights, e-commerce, as well as data analysis and information research.
According to Infomedia, Solera’s non-binding indicative proposal is subject to a number of conditions including:
- completion of due diligence;
- final approvals from Solera’s Board of Directors;