Solera engage in buyout talks

Insurance claims processing software maker Solera Holdings is in advanced talks with private equity firms Thoma Bravo and Vista Equity Partners to sell itself, according to reports from Reuters.

Solera is nearing a deal to sell itself for about $53 per share, which would value the company at about $3.6 billion and a strategic company might have also submitted a bid, Bloomberg reported.

An offer of $53 per share would represent a premium of about 7 per cent to Solera’s close on Tuesday.

Solera was founded in 2005 and processes more than 230 million insurance transactions each year, according to its website. The company on 25 August reported fiscal year revenue for 2015 of $1.1 billion, up from $987.3 billion the previous year. It posted adjusted earnings before interest, taxes, depreciation and amortization of $458 million, compared to $415.4 million in 2014.