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Company type | Private |
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Industry | Software |
Founded | 2005 |
Headquarters | Westlake, Texas |
Key people | Darko Dejanovic (CEO) |
Revenue | ![]() |
Number of employees | 4,000 |
Parent | Vista Equity Partners |
Website | solera |
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]
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]
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]