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Solera Holdings

U.S. software company From Wikipedia, the free encyclopedia

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

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Solera became part of the S&P 400 after an Initial public offering in May 2007.[4] In March 2016, however, Solera was bought out by private equity firm Vista Equity Partners, once more becoming a private entity.[5]

Companies owned by Solera include HPI, Autodata, and Sidexa.[6][7]

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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.[8] 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".[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.[5][11]

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][12]

In 2021, Vista was reportedly planning to have Solera go public again via a special-purpose acquisition company (SPAC).[13][14]

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Timeline of Acquisitions

  • 2006: Acquisition of ADP including Audatex, Informex, Sidexa, ABZ, and Hollander[15]
  • 2008: Acquisition of Inpart,[16] UCS, and HPI[17]
  • 2009: Acquisition of AUTOonline[18]
  • 2010: Acquisitions of Digidentity[19] and Market Scan[20]
  • 2011: Acquisitions of Explore Information Services,[21] Sinexia,[22] See Progress,[23] Commerce Delta, and New Era
  • 2012: Acquisitions of CarweB,[24] Actual Systems,[25] APU[26] and LMI[27]
  • 2013: Acquisition of DST[28] and formation of a joint venture with SRS[29]
  • 2014: Acquisitions of I&S,[30] CAP[31] and Sherwood[32]
  • 2015: Acquisitions of Service Dynamics,[33] IBS Automotive[34] and DMEautomotive[35]
  • 2016: Acquisition of Enservio,[36] and Autodata[37]
  • 2017: Acquisition of Digidentity,[38] and Colimbra[39]
  • 2021: Acquisition of Omnitracs and DealerSocket,[40]
  • 2022: Acquisition of Spireon,[41]
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References

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