Solera completes acquisition of DealerSocket, Omnitracs

Solera Holdings Inc., which specializes in facts and software package for the insurance policies and automotive industries, said Monday it closed on its acquisition of dealership technological know-how business DealerSocket.

Conditions of the deal have not been disclosed. The tie-up was declared last month.

It was not promptly very clear Monday what the acquisition will indicate for DealerSocket, of Irving, Texas, which gives auto stores with dealership administration units, client marriage administration platforms and other software package. Messages trying to get comment had been remaining with Solera and DealerSocket.

Solera, of Westlake, Texas, also done its order of Omnitracs, which gives fleet administration software package. Solera, DealerSocket and Omnitracs all are portfolio providers of personal equity business Vista Fairness Companions. Vista purchased a stake in DealerSocket in 2014. In accordance to Vista’s web page, a Vista fund done a buyout of Omnitracs from Qualcomm Inc. in 2013, even though a different Vista fund took Solera personal in 2016.

Solera also said Monday it obtained eDriving, which gives digital driver danger administration companies for business fleets.

“These acquisitions enable Solera to further more enrich our conclude-to-conclude car or truck lifestyle-cycle alternatives for clients and bridge the gap between car or truck and driver effectiveness on a world wide scale,” Solera CEO Darko Dejanovic said in a statement. “Solera is uniquely positioned to lead the marketplace through innovation, geographic enlargement and further strategic acquisitions.”

Solera’s acquisition of DealerSocket and Omnitracs could sign that Vista Fairness Companions is thinking of having the business general public, The Dallas Morning Information reported last month.

In March, Vista Fairness Companions reportedly deemed having Solera general public through a special-purpose acquisition business, Apollo Strategic Growth Money, according to reporting from Bloomberg. The combination of DealerSocket and Omnitracs with Solera could price the deal at about $15 billion, while the deal reportedly was halted that similar month, Bloomberg reported.

The providers have not said whether or not DealerSocket will keep its identify, whether or not it will be a subsidiary or a division of Solera, or what CEO Sejal Pietrzak’s function will be under the blended business. Pietrzak was named to Automotive Information‘ checklist of a hundred Major Gals in the North American Car Field in 2020.

Also in 2020, DealerSocket obtained DMS service provider Car/Mate for an undisclosed selling price, while courtroom documents believed the deal at near to $two hundred million. The merged providers have more than nine,000 dealership clients. Pietrzak has said DealerSocket aims to supply dealerships “a just one-stop store” for technological know-how solutions.