Solera and MAPFRE today announced that their existing joint venture, Solera Technology Centre (STC), has signed a definitive agreement to acquire CESVI (Center for Experimentation and Road Safety) Brazil.
The acquisition is subject to closing conditions, including approval by the Brazilian competition regulatory authority.
CESVI Brazil is a leading automotive research and experimentation center in Brazil, focused on providing insight, safety guidelines and transparency, including training for vehicle repair facilities and technicians, insurers, original equipment manufacturers, and governmental organizations.
Founded in 2011, STC was created to leverage Solera and MAPFRE’s joint capacity and desire to make testing and training available to all players in the automotive repair industry. STC’s mission is to help modernize the automotive repair and insurance ecosystems of evolving and emerging countries throughout the world with intelligent data, predictive software, and technology-focused education that facilitates hands-on training in centers of excellence, which are key components in helping create safer repairs, economic growth and sustainability for those who have chosen to work in the auto repair trade.
STC already manages CESVI’s operation in China, which opened in 2015, and is serving to reinforce its presence in the growing Chinese automobile market, which is on track to become the largest in the world.