Solera acquires Autodata
Solera Holdings Inc has entered into a definitive agreement to acquire Autodata for a consideration of £340m.
Autodata provides technical information and knowledge solutions for the automotive service, maintenance and repair (SMR) industry.
Powered by data from 136 vehicle manufacturers covering over 40,000 models worldwide, Autodata’s solutions are deployed by over 90,000 repair shops in over 40 countries. The business has been owned by Bowmark Capital and Rothschild & Co’s Five Arrows Principal Investments since 2014.
‘Throughout a car’s life, there are over 54 transactions that occur between motorists and automotive businesses,’ said Tony Aquila, Solera’s founder, chairman and CEO. ‘One of Solera’s missions is to digitise the vehicle ownership ecosystem by developing cognitive applications that not only power connectivity and engagement, but also proliferate awareness and transparency across the entire automotive lifecycle.’
He continued, ‘The acquisition of Autodata will not only complement our expanding/existing suite of digital SMR solutions, such as Identifix and Inpart, but will also accelerate the expansion of Solera’s asset protection and risk management solutions in emerging and maturing markets across the globe.’
Rod Williams, CEO of Autodata added, ‘Joining the Solera family will not only amplify Autodata’s ability to meet the growing needs of the industry, but will also provide our customers and partners with access to Solera’s highly innovative mindset and forward-thinking solutions.’
The transaction, which is subject to regulatory approval, is expected to complete in February 2017.