Solera Holdings
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 co
Overview
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,
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