Wikipedia

Solera Holdings

Solera Inc 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.[1][2] Solera also provides digital identity management services,[3] as well as re-underwriting and data analytics for the automotive, property and casualty insurance industries.[2][4] Solera is active in 88 countries across six continents.[2][5]

Solera Holdings
Company typePrivate
IndustrySoftware
Founded2005
HeadquartersWestlake, Texas
Key people
Darko Dejanovic (CEO)
RevenueIncrease $1,140.85 Million USD (2015)
Number of employees
4,000
ParentVista Equity Partners
Websitesolera.com

Solera became part of the S&P 400 after an Initial public offering in May 2007.[6] In March 2016, however, Solera was bought out by private equity firm Vista Equity Partners, once more becoming a private entity.[7]

Companies owned by Solera include HPI, Autodata, and Sidexa.[5][8]

Company history

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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.[9] 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.

Solera acquired operating companies that employ over 2,000 associates in 31 countries in the deal and generated over $410 million in annual revenue from more than 50,000 global customers.[10]

In May 2007, Solera completed an IPO, trading on the New York Stock Exchange under the symbol "SLH".[11]

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.[12][13] The transaction was completed in March 2016.[7][13]

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.[2][14][15]

In 2021, Vista was reportedly planning to have Solera go public again via a special-purpose acquisition company (SPAC).[16][17]

Timeline of Acquisitions

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  • 2006: Acquisition of ADP including Audatex, Informex, Sidexa, ABZ, and Hollander[18]
  • 2008: Acquisition of Inpart,[19] UCS, and HPI[20]
  • 2009: Acquisition of AUTOonline[21]
  • 2010: Acquisitions of Digidentity[22] and Market Scan[23]
  • 2011: Acquisitions of Explore Information Services,[24] Sinexia,[25] See Progress,[26] Commerce Delta, and New Era
  • 2012: Acquisitions of CarweB,[27] Actual Systems,[28] APU[29] and LMI[30]
  • 2013: Acquisition of DST[31] and formation of a joint venture with SRS[32]
  • 2014: Acquisitions of I&S,[33] CAP[34] and Sherwood[35]
  • 2015: Acquisitions of Service Dynamics,[36] IBS Automotive[37] and DMEautomotive[38]
  • 2016: Acquisition of Enservio,[15] and Autodata[39]
  • 2017: Acquisition of Digidentity,[40] and Colimbra[41]
  • 2021: Acquisition of Omnitracs and DealerSocket,[42]
  • 2022: Acquisition of Spireon,[43]

References

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  1. ^ "10-Q SEC Filling".
  2. ^ a b c d "Solera to acquire VC-backed Enservio". PE HUB. 2016-07-19. Retrieved 2016-07-19.
  3. ^ Inc., Solera Holdings. "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". www.prnewswire.com. Retrieved 2016-07-19. {{cite web}}: |last= has generic name (help)
  4. ^ "Solera buys Explore Information for $520 million". Reuters. 2011-04-25. Retrieved 2016-07-19.
  5. ^ a b "Vista Equity Partners Completes Acquisition of Solera Holdings, Inc". www.prnewswire.com. PR Newswire. Retrieved 2016-07-16.
  6. ^ Carey, David (September 13, 2015). "Vista Equity to Buy Solera for $6.5 Billion Including Debt". Bloomberg.com. Bloomberg. Retrieved 2016-07-15.
  7. ^ a b "Vista Equity Partners completes $6.5B buyout of Solera Holdings Inc. - Austin Business Journal". Austin Business Journal. Retrieved 2016-07-15.
  8. ^ "The Solera World | Solera". www.solerainc.com. Retrieved 2016-07-16. Serinfo Automotriz
  9. ^ "GTCR Announces Partnership with Tony Aquila to Form Solera | Business Wire". www.businesswire.com. Retrieved 2016-07-16.
  10. ^ Inc., Solera. "Solera and GTCR Complete Acquisition of ADP's Claim Services Group". www.prnewswire.com. Retrieved 2016-07-16. {{cite web}}: |last= has generic name (help)
  11. ^ "Solera Holdings IPO prices at $16 a share". Reuters. 2007-05-10. Retrieved 2016-07-16.
  12. ^ Lance Murray (September 14, 2015). "Vista Equity Partners to acquire Solera Holdings in $6.5B deal". Dallas Business Journal. Retrieved March 7, 2016.
  13. ^ a b "Vista Equity Partners Completes Acquisition of Solera Holdings, Inc". www.prnewswire.com. PR Newswire. March 3, 2016. Retrieved 2016-07-15.
  14. ^ "Solera to Acquire Enservio, the Market Leader in Property Contents Software and Services for the Insurance and Homeowner Marketplace". Retrieved 2016-07-19.
  15. ^ a b "Solera to Acquire Enservio, the Market Leader in Property Contents Software and Services for the Insurance and Homeowner Marketplace". Retrieved 2016-07-19.
  16. ^ Baker, Liana; Tan, Gillian; Tse, Crystal; Porter, Kiel (2021-02-04). "Vista's Solera Is in Talks to Go Public Via Apollo SPAC". Bloomberg.com. Archived from the original on 2021-03-03.
  17. ^ Baker, Liana; Tan, Gillian; Tse, Crystal (2021-03-04). "Vista in Talks to Add DealerSocket, Omnitracs to Solera SPAC Deal". Bloomberg.com. Archived from the original on 2021-03-04.
  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. ^ Inc., Solera Holdings. "Solera Holdings, Inc. to Acquire Explore Information Services, LLC; Acquisition Will Extend Core Offerings in North America Into Re-Underwriting Data Services". www.prnewswire.com. Retrieved 2016-07-16. {{cite web}}: |last= has generic name (help)
  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". Bloomberg News.
  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". ir.solerainc.com. Retrieved 2016-07-16.
  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. ^ "Westlake software company Solera adds England's Autodata, grows car data library". Dallas News. 2017-01-04. Retrieved 2020-04-10.
  40. ^ "Solera Holdings acquires provider of digital identity protection tech". www.spglobal.com. Retrieved 2020-04-10.
  41. ^ "Solera Acquires Dutch Auto Insurance Software Company Colimbra". CollisionWeek. 2017-06-05. Retrieved 2020-04-10.
  42. ^ "Solera Completes Acquisition of Omnitracs and DealerSocket". www.solera.com. Retrieved 2021-06-07.
  43. ^ "Solera to Acquire Leading Vehicle Intelligence Company Spireon". www.solera.com. Retrieved 2022-03-01.
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