Westlake, Texas -- March 7, 2016 -- Solera Holdings has been acquired by an affiliate of Vista Equity Partners. Other key investors include an affiliate of Koch Equity Development. Solera produces data and software solutions focused on insurance claims, including Audatex and AudaExplore. The deal closed with a purchase price of $6.5 billion US, or $55.85 per share.
According to an official statement, the acquisition sparks the next phase of Solera's global expansion, and accelerates its mission to digitally transform how the world manages life's two most important assets: the vehicle and the home.
"Since founding Solera, we have focused on being a global player by developing proprietary data and software solutions that help our customers meet the increasing digital demands of the automotive ecosystem," says Tony Aquila, Solera's founder, Chairman and Chief Executive Officer. "At Solera, we have a very strong and committed innovation culture, and believe that by partnering with Robert and his strong team, we can further achieve our goal to become the 20 percent or 80 percent provider of cognitive data sciences that help customers with all of the transactions across the car ownership lifecycle."
Solera serves more than 195,000 customers in over 75 countries, and manages over 230 million digital transactions ranging from vehicle purchase to sale and all events in between, such as electronic titling, real-time valuation, crowdsourced repair, and consumer loyalty intelligence. Solera is also leveraging its proprietary algorithmic data systems to move beyond the garage into the digitally connected home.
"With the accelerated pace of change transforming the global marketplace, there are few companies like Solera that possess the market leadership, product innovation, and extraordinary talent to drive the digital evolution of industries," says Robert F. Smith, founder, Chairman and Chief Executive Officer of Vista. "We are confident that Tony's entrepreneurial spirit and dedicated team combined with Vista's resources and experience will enable Solera to continue shaping the future of the industry and generate lasting value for its customers."