Solera buys Autodata

Wednesday 4th January 2017 | 0 Comments

 

Solera Holdings, Inc. has agreed to acquire Autodata, a provider of technical information and knowledge solutions for the automotive service, maintenance and repair industry.

“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 digitize 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.”

Founded in 1975, UK-based Autodata has evolved from publishing iconic do-it-yourself manuals for car enthusiasts and garages, to delivering fully digital cloud-based diagnostics and repair intelligence for professional mechanics. Powered by data from 136 vehicle manufacturers covering over 40,000 models worldwide, Autodata’s solutions today are deployed by over 90,000 repair shops in over 40 countries for best-in-class coverage, accuracy, reliability, and efficiency. Autodata has been owned by Bowmark Capital and Rothschild & Co’s Five Arrows Principal Investments since 2014.

“Solera’s proprietary Invent & Acquire strategy drives both the innovation and proliferation of our data and software platforms,” continued Aquila. “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.”

As technology continues to rapidly drive complex automotive designs, vehicle repair shops increasingly demand sophisticated digital solutions that can enable and sustain efficient aftermarket operations with the highest levels of customer satisfaction.

“Today’s motorists expect automotive service professionals not only to understand every vehicle make and model, but also to provide a faster and more accurate service at highly competitive prices,” added Rod Williams, CEO of Autodata. “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.”

“Vehicles are not only being driven longer than ever before, but are becoming more technologically advanced and digitally sophisticated,” continued Aquila. “The SMR industry must be prepared to manage this evolution in mobility with the right mindset, equipment and training. Solera’s integration of Autodata will accelerate delivery of the data and software that the global SMR marketplace needs today, as well as the innovative technologies and solutions that the industry will need tomorrow.”

Founded and continuously led by inventor and entrepreneur Tony Aquila, Solera is reportedly a global leader in digital technologies that manage cars, homes and identities. Since its inception in 2005 as a garage-based startup, Solera has grown aggressively with over 40 acquisitions across its Risk Management Solutions, Service Maintenance & Repair, and Customer Retention Management platforms. The company’s current product solutions include Audatex, AutoPoint, CAP/HPI, Digidentity, Enservio, Explore Data, Hollander, Identifix, Inpart, LYNX and TitleTec, as well as the company’s flagship Digital Garage application.

Solera went public on the NYSE in 2007 under the stock symbol “SLH”, joined the S&P 400 in 2009, and went private in 2016 in a $6.5 billion transaction backed by leading investors that include Vista Equity Partners, Koch Industries and Goldman Sachs.

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Category: Company News, International News, UK News