Westlake, Texas-based Solera Holdings is getting bigger with a couple of acquisitions — and it’s not going far to make that happen.
The company is set to acquire Dallas’ Omnitracs, a fleet management platform, and Irving’s DealerSocket, a provider of software for the auto industry, according to a statement. All three companies are in Vista Equity Partners’ investment portfolio.
Solera is working with Kirkland & Ellis as legal advisor on the acquisition, while Greenberg Traurig is advising Omnitracs and Ropes & Gray is advising DealerSocket.
Solera, a risk and asset management data and software company, will use the deal to extend its reach into companies engaged in “vehicle lifecycle management,” it said.
The deal comes after Bloomberg reported in March that Vista’s negotiations to merge the companies with acquisition firm Apollo Strategic Growth Capital in a $15 billion transaction have been halted, the story said, citing people familiar with the matter. The pullback came after tech stocks showed some weakness, the story said.
Solera serves over 235,000 customers and partners in more than 90 countries.
The acquisitions are expected to close during the second quarter, and terms were not disclosed.
“Solera is the driving force behind the rapid digitization of the vehicle lifecycle, delivering intelligent, data-driven, mission-critical solutions for our customers,” CEO Darko Dejanovic said in the statement. “These highly strategic acquisitions will enable us to expand into adjacent verticals and capitalize on emerging trends in our industry.”
Vista Equity completed a $6.5 billion buyout of Solera in 2016, and its deal with Omnitracs was for $800 million in 2013. The DealerSocket agreement was unveiled in 2014.