Solera Inc is an American company based in

Texas Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...

which provides risk management and

asset protection Asset protection (sometimes also referred to as ''debtor-creditor law'') is a set of legal techniques and a body of statutory and common law dealing with protecting assets of individuals and business entities from civil money judgments. The goal of ...

software Software is a set of computer programs and associated documentation and data. This is in contrast to hardware, from which the system is built and which actually performs the work. At the lowest programming level, executable code consists ...

and services to the

automotive industry The automotive industry comprises a wide range of company, companies and organizations involved in the design, Business development, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest industry ...

and

property insurance Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or bo ...

marketplace. Solera also provides digital identity management services, as well as re-underwriting and data analytics for the automotive,

property and casualty General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determine ...

insurance industries. Solera is active in 88 countries across six continents. Solera became part of the

S&P 400 The S&P MidCap 400 Index, more commonly known as the S&P 400, is a stock market index from S&P Dow Jones Indices. The index serves as a gauge for the U.S. mid-cap equities sector and is the most widely followed mid-cap index. To be included in ...

after an

Initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

in May 2007. In March 2016, however, Solera was bought out by

private equity firm A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including leve ...

Vista Equity Partners Vista Equity Partners is an American investment firm focused on financing and forwarding software, data, and technology-enabled startup businesses. Vista has invested in hundreds of companies, including Misys, Ping Identity, and Marketo. The co ...

, once more becoming a private entity. Companies owned by Solera include, HPI, Autodata, and Sidexa amongst others.

Company history

Solera was founded in January 2005 by American businessman

Tony Aquila Tony Aquila, is an American businessman, investor and serial entrepreneur. He is the current CEO and chairman of Canoo Technologies, Inc., founder and former chairman and CEO of Solera Holdings, a technology company that provides risk and asset ...

. In February 2006, private equity firm

GTCR GTCR LLC is a Chicago, Illinois-based private equity firm focused on leveraged buyout, leveraged recapitalization, growth capital and rollup transactions. The firm principally invests in high-growth industries, including financial services & tec ...

announced a partnership with Aquila involving investments of up to $100 million of equity capital. In April 2006, Solera and private equity firm

announced the completion of their acquisition of the Claims Services Group of

Automatic Data Processing ADP, Inc. (originally an acronym for Automatic Data Processing) is an American provider of human resources management software and services. History In 1949, Henry Taub founded Automatic Payrolls, Inc. as a manual payroll processing business wit ...

(NYSE: ADP) for $975 million in cash. Solera acquired operating companies that employ over 2,000 associates in 31 countries in the deal and generated over $410 million in annual revenue from more than 50,000 global customers. In May 2007, Solera completed an IPO, trading on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

under the symbol "SLH". In September 2015, Solera announced an agreement to be acquired by

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

Koch Industries Koch Industries, Inc. ( ) is an American privately held multinational conglomerate corporation based in Wichita, Kansas and is the second-largest privately held company in the United States, after Cargill. Its subsidiaries are involved in th ...

, 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 A special purpose acquisition company (SPAC; ), also known as a "blank check company", is a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making it public without going through the traditional i ...

(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,

References

{{authority control Privately held companies based in Texas Companies formerly listed on the New York Stock Exchange 2007 initial public offerings 2016 mergers and acquisitions Private equity portfolio companies