Solera Holdings

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 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 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

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

  • 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

  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.