AUTOINFO, INC. SIGNS LICENSE AGREEMENT FOR ITS USED AUTO PARTS DATABASE WITH CCC INFORMATION SERVICES INC.
FAIR LAWN, N.J., May 18 /PRNewswire/ -- AutoInfo, Inc. (NASDAQ: AUTO) announced today that it has entered into an agreement to license its electronic database of used automobile parts to CCC Information Services on a non-exclusive basis. AutoInfo's database of used automobile parts will be an integral feature of CCC Information Services' EZEst collision estimating service. Vehicle damage repair estimates for collision repair facilities and major automobile insurance companies in the United States are processed through the use of EZEst. Under the license agreement, AutoInfo's database, which is the largest and most comprehensive compilation of used automobile parts available worldwide, will be electronically utilized by the EZEst system to create a recycled parts database to be used in preparation of repair estimates and repair orders. "Although the economic benefit to AutoInfo under the license is dependent upon the continued success of CCC's EZEst offerings, we are both quite optimistic that this EZEst enhancement will be well received and that our expanded relationship with CCC will help us continue to expand the market for our proprietary database into the insurance company and auto repair shop markets," said Scott Zecher, president of AutoInfo. "By offering our clients convenient and fast access to accurate recycled automobile parts information, CCC Information Services continues to provide new services which are of use to both our collision repair and insurance claims customers," said Sam Barash, executive vice president of CCC. CCC Information Services Inc., headquartered in Chicago, is North America's primary provider of both vehicle value information and stand- alone collision estimating systems for the insurance and collision repair industries. The company is a leader in development of advanced claim management and information systems for the insurance and collision repair industries. AutoInfo provides computer and information services to the vehicle collision and repair industries. More than 3,000 auto salvage dealers, 800 body shops, and 600 paint and parts distributors use the company's communications networks, computer software, and proprietary databases. The company operates one of the largest satellite networks in North America and provides services to the 15 largest automobile insurance carriers in the United States. -0- 5/18/93 /CONTACT: Scott Zecher of AutoInfo, 201-703-0500/ (AUTO)
CO: AutoInfo, Inc.; CCC Information Services ST: New Jersey IN: AUT SU: LIC
TS-PS -- NY023 -- 9636 05/18/93 09:46 EDT
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|Date:||May 18, 1993|
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