CCC Information Services and Mitchell International Reaffirm Commitment to Merger; Intend to Contest FTC's Opposition - aftermarketNews

CCC Information Services and Mitchell International Reaffirm Commitment to Merger; Intend to Contest FTC’s Opposition

In a written statement, CCC and Mitchell reiterated their commitment to the value of the proposed merger and the competitive industry in which they serve.

CHICAGO and SAN DIEGO — CCC Information Services and Mitchell International have issued a statement reaffirming their commitment to their planned merger, in light of Friday’s announcement that the Federal Trade Commission (FTC) intends to oppose the merger. The FTC claims the merger would reduce competition that benefits auto insurance companies and collision repair facilities.

In a written statement, CCC and Mitchell reiterated their commitment to the value of the proposed merger and the competitive industry in which they serve.

Githesh Ramamurthy, CEO of CCC Information Services Inc. stated, "While we are disappointed and disagree with the FTC’s position, we intend to vigorously challenge the FTC in court."

Alex Sun, president and CEO of Mitchell International, added, "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, CCC and Mitchell International believe these benefits include:

— An expanded communication network to deliver greater connectivity between insurers, repair facilities, and other industry service providers and suppliers;

— Expanded Research & 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;

— 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.

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