January 6, 2017 — Solera Holdings announced yesterday it has acquired the British-based Autodata from Bowmark Capital and Five Arrows Principal Investments for £340 million ($418 million).
Autodata, which was founded in 1975, publishes technical service and repair information to the automotive aftermarket. It licenses data from 136 manufacturers covering 32,000 different models globally. Its owners, Bowmark and Five Arrows, made a respectable return having purchased the company in 2014 for £143 million.
(NOTE: This is not the Autodata owned by Internet Brands).
The deal is Solera’s 41st acquisition since Tony Aquila founded the company in 2005 to digitize the insurance claims process. Today, the company provides comprehensive data and software solutions for auto dealers, independent service and repair shops, and automotive and home insurance companies. Solera, which had been a public company for a few years, was taken private when it was acquired by Vista Equity earlier this year for $6.5 billion.
Last August, Solera acquired another company with the Autodata moniker — the Netherlands-based Autodata which produces vehicle valuation, inventory management and workflow solutions.
The acquisition this week likely will be the first of several this year for Solera. A probable play in 2017 will be in the connected car space, to go along with Solera’s AutoPilot service lane marketing and scheduling solutions.
Portico Capital Securities advised Solera on the acquisition. It’s Portico’s 10th deal in the automotive space, and its fifth in the last few months. It advised both OneCommand and DPS on their sales to CIP Capital; Wolters Kluwers’ automotive lending solutions by Reynolds and Reynolds; and DealerRater on its sale to Cars.com.
To read more of TBR’s analysis of Solera, Click Here.
To read our 2016 year end report on automotive retail vendor M&A activity, Click Here.