Solera Holdings Explained

Type:Private
Industry:Software
Revenue: $1,140.85 Million USD (2015)
Num Employees:4,000
Foundation:2005
Location:Westlake, Texas
Parent:Vista Equity Partners

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

Solera became part of the S&P 400 after an Initial public offering in May 2007.[5] In March 2016, however, Solera was bought out by private equity firm Vista Equity Partners, once more becoming a private entity.

Companies owned by Solera include, HPI, Autodata, and Sidexa amongst others.[6]

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.[7] 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.[8]

In May 2007, Solera completed an IPO, trading on the New York Stock Exchange under the symbol "SLH".[9]

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.[10] [11] The transaction was completed in March 2016.[12]

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.[13] [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

Notes and References

  1. Web site: 10-Q SEC Filling.
  2. Web site: 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. Inc.. Solera Holdings. www.prnewswire.com. 2016-07-19.
  3. News: Solera buys Explore Information for $520 million. 2011-04-25. Reuters. 2016-07-19.
  4. Web site: Vista Equity Partners Completes Acquisition of Solera Holdings, Inc.. www.prnewswire.com. PR Newswire. 2016-07-16.
  5. Web site: Vista Equity to Buy Solera for $6.5 Billion Including Debt. Carey. David. September 13, 2015. Bloomberg.com. Bloomberg. 2016-07-15.
  6. Web site: The Solera World Solera . 2016-07-16 . www.solerainc.com. Serinfo Automotriz
  7. Web site: GTCR Announces Partnership with Tony Aquila to Form Solera Business Wire. www.businesswire.com. 2016-07-16.
  8. Web site: Solera and GTCR Complete Acquisition of ADP's Claim Services Group. Inc.. Solera. www.prnewswire.com. 2016-07-16.
  9. News: Solera Holdings IPO prices at $16 a share. 2007-05-10. Reuters. 2016-07-16.
  10. News: Vista Equity Partners to acquire Solera Holdings in $6.5B deal . Dallas Business Journal . September 14, 2015 . Lance Murray . March 7, 2016 .
  11. Web site: Vista Equity Partners Completes Acquisition of Solera Holdings, Inc.. March 3, 2016. www.prnewswire.com. PR Newswire. 2016-07-15.
  12. Web site: Vista Equity Partners completes $6.5B buyout of Solera Holdings Inc. - Austin Business Journal. Austin Business Journal. 2016-07-15.
  13. Web site: Solera to acquire VC-backed Enservio. 2016-07-19. PE HUB. 2016-07-19.
  14. Web site: Solera to Acquire Enservio, the Market Leader in Property Contents Software and Services for the Insurance and Homeowner Marketplace. 2016-07-19.
  15. Web site: Solera to Acquire Enservio, the Market Leader in Property Contents Software and Services for the Insurance and Homeowner Marketplace. 2016-07-19.
  16. Web site: Vista's Solera Is in Talks to Go Public Via Apollo SPAC . 2021-02-04 . Liana . Baker . Gillian . Tan . Crystal . Tse . Kiel . Porter . Bloomberg.com . https://web.archive.org/web/20210303005916/https://www.bloomberg.com/news/articles/2021-02-04/vista-s-solera-said-to-be-in-talks-to-go-public-via-apollo-spac . 2021-03-03 . live.
  17. Web site: Vista in Talks to Add DealerSocket, Omnitracs to Solera SPAC Deal . Liana . Baker . Gillian . Tan . Crystal . Tse . Bloomberg.com . 2021-03-04 . https://web.archive.org/web/20210304215022/https://www.bloomberg.com/news/articles/2021-03-04/vista-is-said-to-add-dealersocket-omnitracs-to-solera-spac-deal. 2021-03-04 . live.
  18. Web site: Solera and GTCR Complete Acquisition of ADP's Claim Services Group.
  19. Web site: Solera Holdings, Inc. Acquires Inpart Servicos Ltda.; Further Enhances Its Product and Service Offering to the Brazilian Market.
  20. Web site: Solera Holdings, Inc. Acquires HPI Ltd.; Further Enhances Its Product and Service Offering to UK Market.
  21. Web site: Solera Holdings, Inc. Successfully Completes Acquisition of AUTOonline GmbH Informationssyteme.
  22. Web site: 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. Web site: 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. Web site: Solera Holdings, Inc. to Acquire Explore Information Services, LLC; Acquisition Will Extend Core Offerings in North America Into Re-Underwriting Data Services. Inc.. Solera Holdings. www.prnewswire.com. 2016-07-16.
  25. Web site: 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. Web site: Solera Holdings, Inc. Acquires See Progress, Inc.; Enhances Product Suite With Market-Leading Vehicle Repair Status Offering; Provides Compelling Value Proposition to Customers. .
  27. Web site: Solera Holdings, Inc. Acquires CarweB Limited; Acquisition Will Strengthen Vehicle Data and Decision Support Capabilities in the UK.
  28. Web site: 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. Web site: Solera, Inc. - News Release. Noakes. Robert. ir.solerainc.com. 2016-07-16.
  30. Web site: Solera Holdings, Inc. Acquires License Monitor, Inc.; Acquisition Extends Solera's Driver Violation Monitoring Capabilities to Fleet Sector.
  31. Web site: Solera Holdings, Inc. to Acquire Distribution Services Technologies, Inc; Acquisition will Strengthen North American Parts Platform.
  32. Web site: Solera Holdings, Inc. Signs Definitive Agreement for Joint Venture with Welsh, Carson, Anderson & Stowe for Vehicle Service, Maintenance and Repair Market Presence.
  33. Web site: CAP acquired by Solera Holdings.
  34. Web site: 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.
  35. Web site: Solera : Acquires Service Dynamics.
  36. Web site: Solera Holdings, Inc. Announces Acquisition of IBS Automotive s.r.o, a Leading Provider of Vehicle Valuation Data in the Czech Republic and Slovakia.
  37. Web site: Solera Holdings, Inc. to Enhance Engagement among Vehicle Owners, Manufacturers, Dealers and Service Providers by Acquiring DMEautomotive, LLC.
  38. Web site: Westlake software company Solera adds England's Autodata, grows car data library. 2017-01-04. Dallas News. en. 2020-04-10.
  39. Web site: Solera Holdings acquires provider of digital identity protection tech. www.spglobal.com. en-us. 2020-04-10.
  40. Web site: Solera Acquires Dutch Auto Insurance Software Company Colimbra. 2017-06-05. CollisionWeek. en-US. 2020-04-10.
  41. Web site: Solera Completes Acquisition of Omnitracs and DealerSocket. www.solera.com. en-us. 2021-06-07.
  42. Web site: Solera to Acquire Leading Vehicle Intelligence Company Spireon. www.solera.com. en-us. 2022-03-01.

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