Solera Holdings

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Solera Holdings
Private
Industry Software
Founded 2005
Headquarters Flag of the United States.svg Westlake, Texas
Key people
Tony Aquila (CEO)
Revenue Increase $1,140.85 Million USD (2015)
Number of employees
5,500
Website solera.com

Solera Holdings 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 solutions for the property and casualty insurance industries.[2][4] Solera is active in 78 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 ABZ, APU, Audatex, AUTOonline, AudaExplore, CAP, DST, Digidentity, Explore Data, Hollander, HPI, Identifix, Informex, Inpart, LYNX Services, Market Scan, sachcontrol, and Sidexa.[5][8]

Company History[edit]

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. In the deal, Solera acquired operating companies that employ over 2,000 associates in 31 countries and generate 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 has 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]

Timeline of Acquisitions[edit]

  • 2006: Acquisition of ADP (including Hollander)[16]
  • 2008: Acquisition of Inpart[17] and HPI[18]
  • 2009: Acquisition of AUTOonline[19]
  • 2010: Acquisitions of Digidentity[20] and Market Scan[21]
  • 2011: Acquisitions of Explore Information Services,[22] Sinexia[23] and See Progress[24]
  • 2012: Acquisitions of CarweB,[25] Actual Systems,[26] APU[27] and LMI[28]
  • 2013: Acquisition of DST[29] and formation of joint venture with SRS[30]
  • 2014: Acquisitions of I&S,[31] CAP[32] and Sherwood[33]
  • 2015: Acquisitions of Service Dynamics,[34] IBS Automotive[35] and DMEautomotive[36]
  • 2016: Acquisition of Enservio[15]

References[edit]

  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. 
  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. 
  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. ^ "Solera and GTCR Complete Acquisition of ADP's Claim Services Group". 
  17. ^ "Solera Holdings, Inc. Acquires Inpart Servicos Ltda.; Further Enhances Its Product and Service Offering to the Brazilian Market". 
  18. ^ "Solera Holdings, Inc. Acquires HPI Ltd.; Further Enhances Its Product and Service Offering to UK Market". 
  19. ^ "Solera Holdings, Inc. Successfully Completes Acquisition of AUTOonline GmbH Informationssyteme". 
  20. ^ "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". 
  21. ^ "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". 
  22. ^ 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. 
  23. ^ "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". 
  24. ^ "Solera Holdings, Inc. Acquires See Progress, Inc.; Enhances Product Suite With Market-Leading Vehicle Repair Status Offering; Provides Compelling Value Proposition to Customers". 
  25. ^ "Solera Holdings, Inc. Acquires CarweB Limited; Acquisition Will Strengthen Vehicle Data and Decision Support Capabilities in the UK". 
  26. ^ "Solera Holdings, Inc. Acquires Actual Systems; Acquisition Will Enhance Solera's Yard Management System Capabilities and Provide a Yard Management Footprint in New Countries". 
  27. ^ Noakes, Robert. "Solera, Inc. - News Release". ir.solerainc.com. Retrieved 2016-07-16. 
  28. ^ "Solera Holdings, Inc. Acquires License Monitor, Inc.; Acquisition Extends Solera's Driver Violation Monitoring Capabilities to Fleet Sector". 
  29. ^ "Solera Holdings, Inc. to Acquire Distribution Services Technologies, Inc; Acquisition will Strengthen North American Parts Platform". 
  30. ^ "Solera Holdings, Inc. Signs Definitive Agreement for Joint Venture with Welsh, Carson, Anderson & Stowe for Vehicle Service, Maintenance and Repair Market Presence". 
  31. ^ "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". 
  32. ^ "CAP acquired by Solera Holdings". 
  33. ^ "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". 
  34. ^ "Solera : Acquires Service Dynamics". 
  35. ^ "Solera Holdings, Inc. Announces Acquisition of IBS Automotive s.r.o, a Leading Provider of Vehicle Valuation Data in the Czech Republic and Slovakia". 
  36. ^ "Solera Holdings, Inc. to Enhance Engagement among Vehicle Owners, Manufacturers, Dealers and Service Providers by Acquiring DMEautomotive, LLC". 

External links[edit]