Contact Information: Media Contacts: CCC Information Services, Inc. John Harris Corporate Communications Sr. 312-229-2693 Mitchell International Jennifer Forman Director of Marketing 858-368-7794
CCC-Mitchell Mutually Agree to Terminate Merger
| Source: Mitchell International
CHICAGO, IL and SAN DIEGO, CA--(Marketwire - March 11, 2009) - CCC Information Services
Inc., of Chicago, and Mitchell International, Inc., of San Diego, announced
today that they will no longer pursue the merger of the two companies.
"In light of the court's decision, we have jointly decided to terminate the
merger. A year ago when we announced the transaction, our stated objective
was to deliver greater innovation to our customers and partners. This theme
has remained a constant and will continue to be at the forefront of our
efforts," stated Githesh Ramamurthy, Chairman and CEO of CCC. "Serving our
customers has always been our primary focus. We have reached the point in
the regulatory process in which our customers, employees and shareholders
are best served by continuing as independent companies," stated Alex Sun,
President and CEO of Mitchell International.
About CCC Information Services Inc.
CCC, founded in 1980, is a leading provider of advanced software,
communications systems, and Internet and wireless enabled technology to the
automotive claims and collision repair industries. Its client base includes
more than 350 insurance companies and thousands of repair facilities. In
addition to its products, CCC delivers extensive industry insight to its
clients by leveraging the industry's most comprehensive auto claims data
warehouse comprising data captured from the millions of transactions
processed through its network, complemented by information from more than
30 other data providers. You can find out more about CCC Information
Services Inc. by visiting the company's web site at www.cccis.com.
About Mitchell International, Inc.
Mitchell is a leading provider of information, workflow, and performance
management solutions to the insurance claims and automotive repair
industries. Founded in 1946, Mitchell has developed a rich legacy as the
only provider of solutions that address both physical damage and casualty
claims needs. In addition, Mitchell is a leading provider of solutions
designed to improve the performance of collision repairers through its
business systems and customer satisfaction indexing offerings. Mitchell
facilitates millions of electronic transactions between thousands of
business partners each month to enhance their productivity, profitability,
and customer satisfaction levels. You can find out more about Mitchell
International by visiting the company's web site at www.mitchell.com.