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Solera Holdings

U.S. software company

U.S. software company

FieldValue
logoSolera_Logo_CMYK-master.svg
logo_size300
typePrivate
key_peopleDarko Dejanovic (CEO)
industrySoftware
revenue$1,140.85 Million USD (2015)
num_employees4,000
foundation2005
locationWestlake, Texas
parentVista Equity Partners
website

Solera Holdings, LLC is an American company based in Texas which provides risk management and asset protection software and services to the automotive industry and property insurance marketplace. Solera also provides digital identity management services, as well as re-underwriting and data analytics for the automotive, property and casualty insurance industries. Solera is active in 88 countries across six continents.

Solera became part of the S&P 400 after an Initial public offering in May 2007. In March 2016, however, Solera was bought out by private equity firm Vista Equity Partners, once more becoming a private entity.

In recent years, Solera has expanded into the fleet management and telematics space through its acquisitions of Omnitracs and Spireon. As part of a broader trend of Fleet digitalization, the company has become a provider of vehicle tracking for applications such as Stolen vehicle recovery, and video telematics solutions which often use a dashcam to enable services like Driver scoring. These technologies are key components within intelligent transportation systems and are offered in markets like Latin America and beyond. Other companies owned by Solera include HPI, Autodata, and Sidexa.

Company history

Solera was founded in January 2005 by American businessman Tony Aquila. In February 2006, private equity firm GTCR announced a partnership with Aquila involving investments of up to $100 million of equity capital. In April 2006, Solera and private equity firm GTCR announced the completion of their acquisition of the Claims Services Group of Automatic Data Processing (NYSE: ADP) for $975 million in cash.

In May 2007, Solera completed an IPO, trading on the New York Stock Exchange under the symbol "SLH".

In September 2015, Solera announced an agreement to be acquired by Vista Equity Partners, Goldman Sachs, Koch Industries, and other affiliated investors for approximately $6.5 billion. The transaction was completed in March 2016.

In July 2016, Solera announced it had entered into a definitive agreement to acquire Enservio, Inc, a Massachusetts-based company that provides software and services to the property contents insurance marketplace.

In 2021, Vista was reportedly planning to have Solera go public again via a special-purpose acquisition company (SPAC).

Timeline of acquisitions

  • 2006: Acquisition of ADP including Audatex, Informex, Sidexa, ABZ, and Hollander
  • 2008: Acquisition of Inpart, UCS, and HPI
  • 2009: Acquisition of AUTOonline
  • 2010: Acquisitions of Digidentity and Market Scan
  • 2011: Acquisitions of Explore Information Services, Sinexia, See Progress, Commerce Delta, and New Era
  • 2012: Acquisitions of CarweB, Actual Systems, APU and LMI
  • 2013: Acquisition of DST and formation of a joint venture with SRS
  • 2014: Acquisitions of I&S, CAP and Sherwood
  • 2015: Acquisitions of Service Dynamics, IBS Automotive and DMEAutomotive
  • 2016: Acquisition of Enservio, and Autodata
  • 2017: Acquisition of Digidentity, and Colimbra
  • 2021: Acquisition of Omnitracs and DealerSocket,
  • 2022: Acquisition of Spireon,

References

References

  1. "10-Q SEC Filling".
  2. (2011-04-25). "Solera buys Explore Information for $520 million". Reuters.
  3. Carey, David. (September 13, 2015). "Vista Equity to Buy Solera for $6.5 Billion Including Debt".
  4. (May 2024). "Latin America Fleet Management Market Report 2024".
  5. (May 25, 2021). "Solera to Acquire Omnitracs, DealerSocket".
  6. (February 10, 2022). "Solera to Acquire Leading Vehicle Intelligence Company Spireon".
  7. "The Solera World {{!}} Solera".
  8. Devotta, Antonita Madonna. (December 19, 2008). "Solera acquires HPI from Aviva for $117.4 mln". [[Reuters]].
  9. "GTCR Announces Partnership with Tony Aquila to Form Solera {{!}} Business Wire".
  10. (2007-05-10). "Solera Holdings IPO prices at $16 a share". Reuters.
  11. Lance Murray. (September 14, 2015). "Vista Equity Partners to acquire Solera Holdings in $6.5B deal". Dallas Business Journal.
  12. (March 3, 2016). "Vista Equity Partners Completes Acquisition of Solera Holdings, Inc.". PR Newswire.
  13. "Vista Equity Partners completes $6.5B buyout of Solera Holdings Inc. - Austin Business Journal".
  14. (2016-07-19). "Solera to acquire VC-backed Enservio".
  15. "Solera to Acquire Enservio, the Market Leader in Property Contents Software and Services for the Insurance and Homeowner Marketplace".
  16. (2021-02-04). "Vista's Solera Is in Talks to Go Public Via Apollo SPAC".
  17. (2021-03-04). "Vista in Talks to Add DealerSocket, Omnitracs to Solera SPAC Deal".
  18. "Solera and GTCR Complete Acquisition of ADP's Claim Services Group".
  19. "Solera Holdings, Inc. Acquires Inpart Servicos Ltda.; Further Enhances Its Product and Service Offering to the Brazilian Market".
  20. "Solera Holdings, Inc. Acquires HPI Ltd.; Further Enhances Its Product and Service Offering to UK Market".
  21. "Solera Holdings, Inc. Successfully Completes Acquisition of AUTOonline GmbH Informationssyteme".
  22. "Solera Holdings, Inc. Acquires Minority Stake in Digidentity B.V.; Strengthens Product and Service Offering; First Strategic Investment as Part of HEMI Initiative to Invest in Innovative and Disruptive Technology".
  23. "Solera Holdings, Inc. Acquires Market Scan Holding B.V.; Acquisition Further Enhances Its Product and Service Offering to the Dutch Market and Adds Data Analytics Capabilities".
  24. (April 26, 2011). "Solera buys Explore Information for $520 million". reuters.com.
  25. "Solera Holdings, Inc. to Acquire Majority Stake in Sinexia Corporacion Tecnologica; Investment Will Further Enhance Solera's Product and Services Offering in the Spanish Market".
  26. "Solera Holdings, Inc. Acquires See Progress, Inc.; Enhances Product Suite With Market-Leading Vehicle Repair Status Offering; Provides Compelling Value Proposition to Customers".
  27. "Solera Holdings, Inc. Acquires CarweB Limited; Acquisition Will Strengthen Vehicle Data and Decision Support Capabilities in the UK".
  28. "Solera Holdings, Inc. Acquires Actual Systems; Acquisition Will Enhance Solera's Yard Management System Capabilities and Provide a Yard Management Footprint in New Countries".
  29. Noakes, Robert. "Solera, Inc. - News Release".
  30. "Solera Holdings, Inc. Acquires License Monitor, Inc.; Acquisition Extends Solera's Driver Violation Monitoring Capabilities to Fleet Sector".
  31. "Solera Holdings, Inc. to Acquire Distribution Services Technologies, Inc; Acquisition will Strengthen North American Parts Platform".
  32. "Solera Holdings, Inc. Signs Definitive Agreement for Joint Venture with Welsh, Carson, Anderson & Stowe for Vehicle Service, Maintenance and Repair Market Presence".
  33. "Solera Holdings, Inc. to Acquire Insurance and Services Division of Pittsburgh Glass Works, LLC; Acquisition Will Establish the Only Comprehensive Automobile Repair and Claims Management Platform in the U.S. Market".
  34. "CAP acquired by Solera Holdings".
  35. "Solera Holdings, Inc. to Acquire United Kingdom Claims Related Business from the Sherwood Group of Companies; Acquisition Will Extend Solera's Reach into the Household".
  36. "Solera : Acquires Service Dynamics".
  37. "Solera Holdings, Inc. Announces Acquisition of IBS Automotive s.r.o, a Leading Provider of Vehicle Valuation Data in the Czech Republic and Slovakia".
  38. "Solera Holdings, Inc. to Enhance Engagement among Vehicle Owners, Manufacturers, Dealers and Service Providers by Acquiring DMEautomotive, LLC".
  39. "Solera to Acquire Enservio, the Market Leader in Property Contents Software and Services for the Insurance and Homeowner Marketplace".
  40. (2017-01-04). "Westlake software company Solera adds England's Autodata, grows car data library".
  41. "Solera Holdings acquires provider of digital identity protection tech".
  42. (2017-06-05). "Solera Acquires Dutch Auto Insurance Software Company Colimbra".
  43. "Solera Completes Acquisition of Omnitracs and DealerSocket".
  44. (February 2022). "Solera to Acquire Leading Vehicle Intelligence Company Spireon".
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