Tuesday, 25 November 2008 15:14

Suit to Block Mitchell--CCC Merger Will Be Contested

CCC Information Services and Mitchell International Reaffirm Commitment to Merger, Companies Intend to Contest FTC's Opposition

CCC Information Services Inc., of Chicago, Ill., and Mitchell International, Inc., of San Diego, Calif., reaffirmed their commitment to the planned merger, and intend to contest the action taken by the Federal Trade Commission. The companies received notice regarding the FTC's intent to oppose the merger. 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 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 remain confident that this merger is pro-competitive and ultimately will be recognized as such.

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 http://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 http://www.mitchell.com.

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