Solera Holdings

Last updated
Solera Holdings
Company type Private
Industry Software
Founded2005
Headquarters Westlake, Texas
Key people
 Darko Dejanovic (CEO)
RevenueIncrease2.svg $1,140.85 Million USD (2015)
Number of employees
4,000
Parent Vista Equity Partners
Website solera.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, 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]

Contents

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]

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]

Timeline of Acquisitions

Related Research Articles

<span class="mw-page-title-main">ADP (company)</span> American software company

Automatic Data Processing, Inc. (ADP) is an American provider of human resources management software and services, headquartered in Roseland, New Jersey.

Trader Corporation is a Canadian technology company based in Toronto specializing in classified automotive advertising. The company's flagship product is AutoTrader, an online marketplace for buying and selling new and used vehicles. The company is owned by private equity firm Thoma Bravo. The company was originally a part of Trader Classified Media, which was founded in 1987 by John MacBain. Trader Corporation’s current CEO and President is Sebastian Baldwin.

Assurant, Inc. is a global provider of risk management products and services with headquarters in Atlanta. Its businesses provide a diverse set of specialty, niche-market insurance products in the property, casualty, extended device protection, and preneed insurance sectors. The company's main operating segments are Global Housing and Global Lifestyle.

<span class="mw-page-title-main">Reynolds and Reynolds</span> Private corporation based in Ohio

The Reynolds and Reynolds Company is a private corporation based in Dayton, Ohio. Its primary business is providing business forms, management software and professional services to car dealerships. Its software is used to manage sales logistics at dealerships. It also produces forms used in medicine and insurance.

BankServ was a legacy financial services company headquartered in Enterprise, Nevada that developed electronic banking software and operated outsourced data processing centers used by banks and other businesses to move money electronically. BankServ was founded in 1996 and did business with over 400 banks in more than 50 countries, primarily supplying banks with the behind-the-scenes programs used for remote deposit, internet bill payment, mobile payments, wire transfer payments and sending messages over the international SWIFT network.

<span class="mw-page-title-main">FIS (company)</span> American information technology company

Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech, and as of Q2 2024 it offers its solutions in two primary segments: Banking Solutions & Capital Market Solutions. Annually, FIS facilitates the movement of roughly $9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.

Mitchell International, Inc. is an American company based in San Diego, CA, which develops software used by the automotive industry to manage collision and medical claims, parts and labor estimates, and glass replacement quotes. Mitchell operates throughout the United States and Canada, and processes more than 50 million transactions a year for more than 300 insurance companies, more than 30,000 collision repair facilities, independent adjusters, and other vehicle repair participants.

<span class="mw-page-title-main">Verisk Analytics</span> American data analytics and risk assessment firm

Verisk Analytics, Inc. is an American multinational data analytics and risk assessment firm based in Jersey City, New Jersey, with customers in insurance, natural resources, financial services, government, and risk management sectors. The company uses proprietary data sets and industry expertise to provide predictive analytics and decision support consultations in areas including fraud prevention, actuarial science, insurance coverage, fire protection, catastrophe and weather risk, and data management.

The Gores Group, LLC is a private equity firm specializing in acquiring and partnering with mature and growing businesses. The company was founded in 1987 by its CEO and chairman, Alec E. Gores.

<span class="mw-page-title-main">Vista Equity Partners</span> American investment firm

Vista Equity Partners Management, LLC is an American private equity firm that invests in software, data, and technology-enabled businesses. With over $100 billion in assets under management (AUM), it is one of the largest private equity firms in the world. Vista Equity Partners has invested in hundreds of technology companies, including Citrix, SentinelOne, and Marketo, and has achieved many accolades in the space, most recently being named as 2023's Global Technology Private Equity Firm of the Year by Private Equity International.

<span class="mw-page-title-main">Worldpay, Inc.</span> American payment processing company

Worldpay is an American multinational financial technology company and payment processing company. Worldpay provides payment and technology services to merchants and financial institutions globally generating 40 billion transactions across 146 countries and 135 currencies.

Cvent Holding Corp. is a Tysons Corner, Virginia–based company that provides software-as-a-service (SaaS) solutions for meetings, events, and hospitality management. Their web-based platform caters to in-person, virtual, and hybrid events, offering functionalities like online registration, venue selection, event management tools, and attendee engagement features. Cvent also provides software for hotels and venues to manage group bookings, including corporate travel, and source new group business. Previously a public company, Cvent was acquired by investment firm Blackstone Inc. for $4.6 billion in June 2023.

Conning is a global investment management firm serving the insurance industry. Conning supports institutional investors, including pension plans, with investment and asset management products, risk modeling software, and industry research. Founded in 1912, Conning has offices in Boston, Cologne, Hartford, Hong Kong, London, New York and Tokyo.

HGGC, LLC is an American middle-market private equity firm based in Palo Alto, California, with over $7 billion of cumulative capital commitments. Since its inception in 2007, HGGC has completed transactions with an aggregate transaction value of $50 billion. The firm was named 2014 M&A Mid-Market Private Equity Firm of the Year by Mergers & Acquisitions magazine.

<span class="mw-page-title-main">HPI Ltd</span> British vehicle history checking service

HPI is a British vehicle history checking service founded in 1938 and part of UK automotive data business cap hpi.

<span class="mw-page-title-main">Tony Aquila</span> American businessman

Tony Aquila, is an entrepreneur in the United States. He was the Chairman and CEO of Canoo Technologies before its bankruptcy in January 2025.

<span class="mw-page-title-main">Beeline (software company)</span>

Beeline is a software as a service company dealing with sourcing and managing the extended workforce. The company ranks among the largest vendor management system (VMS) providers in terms of total temp/contract spend and outsourced spend in Staffing Industry Analysts' 2017 VMS Markets Development Summary report. The company was sold in July 2018 to New Mountain Capital. As of March 2021, Beeline announced that it is now going to market as an extended workforce platform.

Vivid Seats Inc. is an American ticket exchange and resale company. The company went public on October 19, 2021, after a merger earlier in that year with Horizon Acquisition Corporation, a SPAC. It trades on the NYSE and Nasdaq as SEAT.

<span class="mw-page-title-main">CalAmp</span> American software company

CalAmp Corporation is an Irvine, California-based provider of Internet of things (IoT) software applications, cloud services, data intelligence and telematics products and services. The company's technology includes edge computing devices and SaaS-based applications for remotely tracking and managing vehicles, drivers, cargo and other mobile assets. The company also owns the patents and trademarks for the LoJack Stolen Vehicle Recovery System and provides connected car and lot management products.

CDK Global Inc. is an American multinational corporation based in Austin, Texas, providing data and technology to the automotive, heavy truck, recreation, and heavy equipment industries.

References

  1. ↑ "10-Q SEC Filling".
  2. 1 2 3 4 "Solera to acquire VC-backed Enservio". PE HUB. 2016-07-19. Retrieved 2016-07-19.
  3. ↑ "Solera buys Explore Information for $520 million". Reuters. 2011-04-25. Retrieved 2016-07-19.
  4. ↑ Carey, David (September 13, 2015). "Vista Equity to Buy Solera for $6.5 Billion Including Debt". Bloomberg News . Retrieved 2016-07-15.
  5. 1 2 "Vista Equity Partners completes $6.5B buyout of Solera Holdings Inc. - Austin Business Journal". Austin Business Journal. Retrieved 2016-07-15.
  6. ↑ "The Solera World | Solera". www.solerainc.com. Retrieved 2016-07-16. Serinfo Automotriz
  7. ↑ Devotta, Antonita Madonna (December 19, 2008). "Solera acquires HPI from Aviva for $117.4 mln". Reuters .
  8. ↑ "GTCR Announces Partnership with Tony Aquila to Form Solera | Business Wire". www.businesswire.com. Retrieved 2016-07-16.
  9. ↑ "Solera Holdings IPO prices at $16 a share". Reuters. 2007-05-10. Retrieved 2016-07-16.
  10. ↑ Lance Murray (September 14, 2015). "Vista Equity Partners to acquire Solera Holdings in $6.5B deal". Dallas Business Journal. Retrieved March 7, 2016.
  11. 1 2 "Vista Equity Partners Completes Acquisition of Solera Holdings, Inc". www.prnewswire.com. PR Newswire. March 3, 2016. Retrieved 2016-07-15.
  12. ↑ "Solera to Acquire Enservio, the Market Leader in Property Contents Software and Services for the Insurance and Homeowner Marketplace" . Retrieved 2016-07-19.
  13. ↑ 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.
  14. ↑ 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.
  15. ↑ "Solera and GTCR Complete Acquisition of ADP's Claim Services Group".
  16. ↑ "Solera Holdings, Inc. Acquires Inpart Servicos Ltda.; Further Enhances Its Product and Service Offering to the Brazilian Market".
  17. ↑ "Solera Holdings, Inc. Acquires HPI Ltd.; Further Enhances Its Product and Service Offering to UK Market".
  18. ↑ "Solera Holdings, Inc. Successfully Completes Acquisition of AUTOonline GmbH Informationssyteme".
  19. ↑ "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".
  20. ↑ "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".
  21. ↑ "Solera buys Explore Information for $520 million". reuters.com. April 26, 2011.
  22. ↑ "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".
  23. ↑ "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 .
  24. ↑ "Solera Holdings, Inc. Acquires CarweB Limited; Acquisition Will Strengthen Vehicle Data and Decision Support Capabilities in the UK".
  25. ↑ "Solera Holdings, Inc. Acquires Actual Systems; Acquisition Will Enhance Solera's Yard Management System Capabilities and Provide a Yard Management Footprint in New Countries".
  26. ↑ Noakes, Robert. "Solera, Inc. - News Release". ir.solerainc.com. Retrieved 2016-07-16.
  27. ↑ "Solera Holdings, Inc. Acquires License Monitor, Inc.; Acquisition Extends Solera's Driver Violation Monitoring Capabilities to Fleet Sector".
  28. ↑ "Solera Holdings, Inc. to Acquire Distribution Services Technologies, Inc; Acquisition will Strengthen North American Parts Platform".
  29. ↑ "Solera Holdings, Inc. Signs Definitive Agreement for Joint Venture with Welsh, Carson, Anderson & Stowe for Vehicle Service, Maintenance and Repair Market Presence".
  30. ↑ "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".
  31. ↑ "CAP acquired by Solera Holdings".
  32. ↑ "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".
  33. ↑ "Solera : Acquires Service Dynamics".
  34. ↑ "Solera Holdings, Inc. Announces Acquisition of IBS Automotive s.r.o, a Leading Provider of Vehicle Valuation Data in the Czech Republic and Slovakia".
  35. ↑ "Solera Holdings, Inc. to Enhance Engagement among Vehicle Owners, Manufacturers, Dealers and Service Providers by Acquiring DMEautomotive, LLC".
  36. ↑ "Solera to Acquire Enservio, the Market Leader in Property Contents Software and Services for the Insurance and Homeowner Marketplace" . Retrieved 2016-07-19.
  37. ↑ "Westlake software company Solera adds England's Autodata, grows car data library". Dallas News. 2017-01-04. Retrieved 2020-04-10.
  38. ↑ "Solera Holdings acquires provider of digital identity protection tech". www.spglobal.com. Retrieved 2020-04-10.
  39. ↑ "Solera Acquires Dutch Auto Insurance Software Company Colimbra". CollisionWeek. 2017-06-05. Retrieved 2020-04-10.
  40. ↑ "Solera Completes Acquisition of Omnitracs and DealerSocket". www.solera.com. Retrieved 2021-06-07.
  41. ↑ "Solera to Acquire Leading Vehicle Intelligence Company Spireon". www.solera.com. Retrieved 2022-03-01.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.