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On Friday, car insurance software-maker Solera Holdings (NYSE: SLH ) announced that it has acquired all shares outstanding of peer HyperQuest,, a maker of Web-based "subrogation" software for the insurance industry.
Subrogation refers to the legal doctrine permitting one party, such as an insurer, to step into the shoes of another person, such as an insured, and file a claim in court based on an injury suffered by the insured. According to a press release that Solera published describing the acquisition, HyperQuest's software "automates the manually intensive processes typical of these claim types in addition to increasing claims accuracy and accelerating claims resolution."
Financial terms of the acquisition were not disclosed.