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Solera to add Omnitracs, DealerSocket

May 24, 2021
Acquisition expands company’s capabilities as a global data intelligence, technology leader in vehicle lifecycle management

Solera Holdings is set to acquire Omnitracs, a complete fleet management platform, and DealerSocket, a software as a service (SaaS) provider to the automotive industry.

These acquisitions, which are expected to close during the second quarter of this year, will extend Solera’s position as a global data intelligence and technology leader serving all constituents engaged in vehicle lifecycle management, according to the company.

Financial terms were not disclosed.

With operations in more than 90 countries, Solera operates in a highly complex vehicle lifecycle management ecosystem. Solera’s software and data assets power the value chain of a vehicle from purchase to claims, repair and resale. These acquisitions will build upon Solera’s strategy to minimize complexity and reduce friction at all touchpoints in the vehicle lifecycle with fully integrated intelligent technology platforms.

“Solera is the driving force behind the rapid
digitization of the vehicle lifecycle, delivering intelligent, data-driven, mission-critical solutions for our customers,” said Darko Dejanovic, chief executive officer of Solera. “These highly strategic acquisitions will enable us to expand into adjacent verticals and capitalize on emerging trends in our industry.

“Solera’s unique position in a large and growing market allows us to transform the industry through innovation, proprietary data assets, unmatched scale and deep customer relationships.”

With Omnitracs, Solera will offer a unified platform that encompasses safety, productivity and maintenance solutions for commercial fleets.

“By joining Solera, Omnitracs will be able to further extend our converged solutions, both in and on the vehicle, into fleet lifecycle management services while also extending our access to new markets,” said Ray Greer, CEO of Omnitracs.

The addition of DealerSocket’s platform completes an end-to-end suite of solutions for automotive dealerships, Solera said, combining customer acquisition and retention solutions, inventory management, dealership management systems, e-titling, and a unique service and maintenance platform.

“The combination of DealerSocket with Solera allows us to offer dealerships a fully unified platform to simplify workflows and enables us to become the digital backbone across all areas of a connected dealership, simplifying and improving the retail experience,” said Sejal Pietrzak, DealerSocket CEO. “We are thrilled to join the Solera team.”

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BT staff