Solera Holdings Inc. has acquired Omnitracs, a fleet management platform, and DealerSocket, a SaaS provider to the automotive industry.
“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.”
“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, chief executive officer of Omnitracs.
“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. We are thrilled to join the Solera team,” said Sejal Pietrzak, chief executive officer of DealerSocket.
Kirkland & Ellis LLP is advising Solera on the acquisition. Greenberg Traurig LLP is serving as legal counsel to Omnitracs and Ropes & Gray LLP is serving as legal counsel to DealerSocket.