{"id":65,"date":"2021-05-17T12:30:00","date_gmt":"2021-05-17T17:30:00","guid":{"rendered":"http:\/\/soleracom.wpengine.com\/?p=65"},"modified":"2023-10-03T17:17:33","modified_gmt":"2023-10-03T22:17:33","slug":"solera-to-acquire-omnitracs-and-dealersocket","status":"publish","type":"post","link":"https:\/\/www.solera.com\/blog\/2021\/05\/17\/solera-to-acquire-omnitracs-and-dealersocket\/","title":{"rendered":"Solera to acquire Omnitracs and DealerSocket"},"content":{"rendered":"\n<p class=\"has-text-align-center\"><strong>Solera to Acquire Omnitracs and DealerSocket<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>Expanding its Capabilities as the Global Data Intelligence and Technology Leader in Vehicle Lifecycle Management<\/strong><\/p>\n\n\n\n<p><strong>Westlake, TX, May 17, 2021&nbsp;\u2013&nbsp;<\/strong><a href=\"https:\/\/www.solera.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solera Holdings, Inc.<\/a>&nbsp;(\u201cSolera\u201d) today announced that it will acquire Omnitracs, a complete fleet management platform,&nbsp;and&nbsp;DealerSocket, a leading SaaS provider to the automotive industry. These acquisitions will extend Solera\u2019s position as the preeminent global data intelligence and technology leader serving all constituents engaged in vehicle lifecycle management.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>Global Leadership in Vehicle Lifecycle Management&nbsp;<\/strong>&nbsp;<\/p>\n\n\n\n<p>With operations in more than 90 countries, Solera is the global technology leader operating in a highly complex&nbsp;vehicle lifecycle management&nbsp;ecosystem.&nbsp;Solera\u2019s software and unique data assets power the value-chain of a vehicle from purchase to claims, repair and resale. These acquisitions will build upon Solera\u2019s strategy to minimize complexity and reduce friction at all touchpoints in the vehicle lifecycle with fully integrated intelligent technology platforms.&nbsp;<\/p>\n\n\n\n<p>\u201cSolera is the driving force behind the rapid digitization of the vehicle lifecycle, delivering intelligent, data-driven, mission-critical solutions for our customers,\u201d said Darko&nbsp;Dejanovic, Chief Executive Officer of Solera. \u201cThese highly strategic acquisitions will enable us to expand into adjacent verticals and capitalize on emerging trends in our industry. Solera\u2019s unique position in a large and growing market allows us to transform the industry through innovation,&nbsp;proprietary&nbsp;data assets,&nbsp;unmatched scale and deep customer relationships.\u201d&nbsp;&nbsp;<\/p>\n\n\n\n<p>With Omnitracs, Solera will offer a unified platform that encompasses safety, productivity and maintenance solutions for commercial fleets.&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cBy joining Solera, Omnitracs will be able to further extend our converged solutions, both in and on the vehicle, into&nbsp;<a href=\"https:\/\/www.omnitracs.com\/platform\" target=\"_blank\" rel=\"noreferrer noopener\">fleet lifecycle management services<\/a>&nbsp;while also extending our access to new markets,\u201d said Ray Greer, Chief Executive Officer of Omnitracs.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The addition of&nbsp;DealerSocket\u2019s&nbsp;cutting-edge platform completes an end-to-end suite of solutions for automotive dealerships, combining customer acquisition and retention solutions, inventory management,&nbsp;<a href=\"https:\/\/www.dealersocket.com\/products\/crm\/\" target=\"_blank\" rel=\"noreferrer noopener\">dealership management systems<\/a>,&nbsp;e-titling and a unique service and maintenance platform.&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cThe combination of&nbsp;DealerSocket&nbsp;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,\u201d said Sejal Pietrzak, Chief Executive Officer of&nbsp;DealerSocket.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>The acquisitions are expected to close during the second quarter of calendar year 2021, subject to definitive agreements that will include customary closing conditions, including regulatory approvals.&nbsp;Financial terms were not disclosed.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Kirkland &amp; Ellis LLP&nbsp;is advising&nbsp;Solera on the acquisition.&nbsp;Greenberg Traurig, LLP is serving as legal counsel to&nbsp;Omnitracs&nbsp;and Ropes &amp; Gray LLP is serving as legal counsel to&nbsp;DealerSocket.<\/p>\n\n\n\n<p><strong>About&nbsp;Omnitracs&nbsp;<\/strong>&nbsp;<\/p>\n\n\n\n<p>Omnitracs offers the only complete fleet intelligence software platform. Serving the largest for-hire and private fleets in the transportation and distribution industries, Omnitracs\u2019s best-in-class solutions accelerate business success, improve efficiency, and enhance the driver experience for nearly 15,000 customers who collectively travel 250 million miles per week. Omnitracs pioneered digital transformation in trucking more than 30 years ago, and today offers a one-stop shop for enterprise-grade, data-driven solutions across compliance, telematics, workflow, routing, and video safety in over 50 countries across the globe. For more information, visit&nbsp;<a href=\"https:\/\/www.omnitracs.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">www.omnitracs.com<\/a>.&nbsp;<\/p>\n\n\n\n<p><strong>About&nbsp;DealerSocket<\/strong>&nbsp;<\/p>\n\n\n\n<p>DealerSocket&nbsp;serves over 9,000 automotive dealerships with best-in-class solutions for customer relationship management, digital retailing\/marketing, websites, inventory management and analytics solutions, as well as leading enterprise-level dealership management systems.&nbsp;DealerSocket&nbsp;solutions transform the automotive experience with innovations and unparalleled, award-winning customer service. For more information, visit&nbsp;<a href=\"https:\/\/www.dealersocket.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">www.dealersocket.com<\/a>.&nbsp;<\/p>\n\n\n\n<p><strong>Cautions Regarding Forward-Looking Statements\u202f<\/strong>&nbsp;<\/p>\n\n\n\n<p>This press release contains forward-looking statements, including statements about: the expected execution of definitive agreements relating to, and expected consummation of, Solera\u2019s acquisitions of Omnitracs&nbsp;and&nbsp;DealerSocket&nbsp;(together, the \u201cAcquisitions\u201d); the expected financial, operational and strategic benefits of the Acquisitions; the expected benefits and value of current and future products and services to Solera\u2019s, Omnitracs\u2019s&nbsp;and&nbsp;DealerSocket\u2019s&nbsp;customers, either alone or in conjunction with the products and services of other Solera group companies; and operational efficiencies that may be achieved by the combined companies as a result of the Acquisitions. These statements are based on Solera\u2019s current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially from such forward-looking statements. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.\u202f&nbsp;<\/p>\n\n\n\n<p><strong>Contacts&nbsp;<\/strong><\/p>\n\n\n\n<p>Joele Frank, Wilkinson Brimmer Katcher&nbsp;<\/p>\n\n\n\n<p>Jed Repko \/ Ed Trissel&nbsp;<\/p>\n\n\n\n<p>212-355-4449&nbsp;<\/p>\n\n\n\n<p><a href=\"mailto:Media@solera.com\" target=\"_blank\" rel=\"noreferrer noopener\">Media@solera.com<\/a>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solera to Acquire Omnitracs and DealerSocket Expanding its Capabilities as the Global Data Intelligence and Technology Leader in Vehicle Lifecycle Management Westlake, TX, May 17, 2021&nbsp;\u2013&nbsp;Solera Holdings, Inc.&nbsp;(\u201cSolera\u201d) today announced that it will acquire Omnitracs, a complete fleet management platform,&nbsp;and&nbsp;DealerSocket, a leading SaaS provider to the automotive industry. These acquisitions will extend Solera\u2019s position as [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[3],"solution-focus":[29],"topic":[105],"resource-type":[62],"class_list":["post-65","post","type-post","status-publish","format-standard","hentry","category-press","solution-focus-fleet","topic-enterprise-fleet","resource-type-news-press"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.8 (Yoast SEO v26.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solera to acquire Omnitracs and DealerSocket - Solera<\/title>\n<meta name=\"description\" content=\"Westlake, TX, May 17, 2021 \u2013 Solera Holdings, Inc. 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