CHICAGO and SAN DIEGO — CCC Information Services and Mitchell International reaffirmed their commitment to their planned merger and intend to contest the Federal Trade Commission’s decision to oppose it. CCC and Mitchell reiterated their commitment to the value of the proposed merger and the competitive industry in which they serve.
MORE ON THE MERGER
“While we are disappointed and disagree with the FTC’s position, we intend to vigorously challenge the FTC in court,” says Githesh Ramamurthy, CEO of CCC Information Services.
Alex Sun, president and CEO of Mitchell International, says, “The driving force behind the proposed merger is the many benefits and innovations it can deliver to our customers. Our industry is – and will remain – intensely competitive. This is something that continues to be one of its defining characteristics.”
As stated in the initial announcement of the proposed merger, the benefits include:
• an expanded communication network to deliver greater connectivity between insurers, repair facilities, and other industry service providers and suppliers;
• expanded research and development resources and a greater ability to enhance current products and services, deliver new technology-based claims solutions, and provide faster time-to-market product delivery;
• an expanded sales and service organization, providing broader and better customer service across North America; and
• a larger, more comprehensive data warehouse that will improve the company’s ability to deliver industry insights through benchmarking, data analytics and predictive modeling.
The companies said they remain confident that this merger is pro-competitive and ultimately will be recognized as such.
