{"id":872,"date":"2022-02-01T07:05:27","date_gmt":"2022-02-01T12:05:27","guid":{"rendered":"https:\/\/solerastaging.wpengine.com\/?p=872"},"modified":"2023-05-16T19:24:27","modified_gmt":"2023-05-17T00:24:27","slug":"solera-to-acquire-leading-vehicle-intelligence-company-spireon","status":"publish","type":"post","link":"https:\/\/www.solera.com\/blog\/2022\/02\/01\/solera-to-acquire-leading-vehicle-intelligence-company-spireon\/","title":{"rendered":"Solera to acquire leading vehicle intelligence company Spireon"},"content":{"rendered":"\n<p class=\"has-text-align-center\">Acquisition Will Expand Solera&#8217;s Fleet Solutions and Vehicle Solutions and Further Strengthen its Position as the Global Leader in AI-Powered Software and Data Services Across the Vehicle Lifecycle&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>WESTLAKE, Texas, Feb. 1, 2022<\/strong> \u2013 Solera Holdings, LLC (&#8220;Solera&#8221;), the leading global provider of integrated vehicle lifecycle and fleet management software-as-a-service, data, and services, today announced that it has signed a definitive agreement to acquire Spireon, one of North America\u2019s largest device-independent telematics and connected vehicle intelligence companies, from Greenbriar Equity Fund IV, L.P., a fund managed by Greenbriar Equity Group, L.P. (\u201cGreenbriar\u201d).<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Solera\u2019s strategic acquisition of Spireon will further strengthen its position as the leading provider of AI-powered software, services, and data assets to four critical pillars of the vehicle lifecycle: Vehicle Claims, Vehicle Repair, Vehicle Solutions, and Fleet Solutions.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Spireon currently serves over 13,000 customers in the automotive, fleet, trailer and asset sectors with nearly 4 million connected devices that generate over 900 billion discrete data points on its cloud native IoT platform each year. Spireon delivers powerful insights to help customers in these sectors track, manage and protect their most valuable assets.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>\u201cThis acquisition is strategically aligned with our existing fleet and dealership growth strategies and will expand our customer base. It increases our total addressable market and adds significant opportunities for cross-selling and solution integration that benefit customers,\u201d said Darko Dejanovic, Chief Executive Officer of Solera. \u201cBringing together Spireon\u2019s IoT platform and Solera\u2019s data assets creates a powerful, intelligent network that we believe improves safety, efficiency, and productivity across the vehicle lifecycle. Every addition to our data assets allows us to enhance a continuous cycle of insights that solves the issues our customers face today while proactively addressing the challenges they will face tomorrow.\u201d<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Kevin Weiss, Chief Executive Officer of Spireon, added, &#8220;I am extremely excited about the acquisition by Solera and the opportunities it will bring our customers and employees. Solera\u2019s position as a growing, global leader can bring new avenues to expand Spireon\u2019s IoT platform and solutions to address new customer challenges as well as global markets.\u201d<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>&#8220;We are proud to have partnered with the world-class management team at Spireon,&#8221; said Michael Weiss, Managing Partner at Greenbriar. \u201cBy driving product innovation, commercial acceleration, and supply chain scalability, we&#8217;re pleased to have supported the company through a period of strong performance. Spireon is poised for breakout growth as part of Solera.&#8221;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Subject to customary closing conditions and regulatory approval, the acquisition is expected to close in the first calendar quarter of 2022. Barclays is serving as the exclusive financial advisor to Solera, and Kirkland &amp; Ellis is serving as legal counsel. Goldman Sachs and William Blair are serving as financial advisors to Spireon, with Hughes Hubbard &amp; Reed serving as legal counsel.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>About Solera<\/strong><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Solera is the leading global provider of integrated vehicle lifecycle and fleet management software-as-a-service, data, and services.\u202fThrough four lines of business \u2013 vehicle claims, vehicle repairs, vehicle solutions and fleet solutions \u2013 Solera is home to many leading brands in the vehicle lifecycle ecosystem, including Identifix, Audatex, DealerSocket, Omnitracs, eDriving\/Mentor, Explore, CAP HPI, Autodata, and others. Solera empowers its customers to succeed in the digital age by providing them with a &#8220;one-stop shop&#8221; solution that streamlines operations, offers data-driven analytics, and enhances customer engagement, which Solera believes helps customers drive sales, promote customer retention, and improve profit margins. Solera serves over 300,000 global customers and partners in 100+ countries. For more information, visit www.solera.com.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>About Spireon<\/strong><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Spireon, the Vehicle Intelligence Company, is one of the leading providers of device-independent aftermarket telematics solutions in North America. By equipping cars, trucks, trailers and other mobile assets with GPS devices and sensors, Spireon turns any vehicle into a connected vehicle. Award-winning products Goldstar, LoJack and FleetLocate deliver 24\u00d77 asset visibility and actionable insights to auto dealers, lenders, transportation companies, service fleet managers, rental car companies and consumers to increase safety and productivity, boost profits and protect assets. Spireon\u2019s state-of-the-art IoT platform, NSpire powers both the company\u2019s expansive suite of connected vehicle solutions and the advanced telematics of some of the world\u2019s largest automotive OEMs, supporting nearly 4 million active subscribers and processing billions of data events each month. With its open architecture and platform-as-a-service approach, NSpire\u2019s superior data warehousing, analytics and insights capabilities are fully scalable and ideally suited for an array of mission-critical applications across industries. Learn more at www.spireon.com.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>About Greenbriar<\/strong><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Founded in 1999, Greenbriar is a private equity firm with aggregate capital commitments over time totaling more than $6 billion, across five funds, and is focused on investments in market-leading services and manufacturing businesses. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar&#8217;s deep sectoral expertise and strategic insight alongside our proven operating capabilities and network of senior executive relationships. For more information, visit www.greenbriarequity.com.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Cautions About Forward-Looking Statements<\/strong><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>This press release contains forward-looking statements, including statements about the expected timing for completion of the acquisition and the benefits of the acquisition, including the expected expansion of Solera&#8217;s product and service offerings serving the vehicle lifecycle. These statements are based on our current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially.\u202fActual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in transactions of this nature, our business and Spireon\u2019s business, including, without limitation: that we may not complete the acquisition; the failure to realize the expected benefits of the acquisition; and risks associated with, and possible negative consequences of, acquisitions, investments, joint ventures and similar transactions, including successfully integrating Spireon\u2019s products, services and business with or into Solera\u2019s products, offerings and business. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter any forward-looking statements whether as a result of new information, future events or otherwise.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Contact:<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Solera<\/strong><br>Priti Sharma<br>Solera Communications<br>priti.sharma@solera.com<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>PAN Communications<\/strong><br>solera@pancomm.com<br>(407) 734-7320<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Spireon<\/strong><br>Havas Group<br>spireon@havasformula.com<br>(619) 234-0345<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Greenbriar<\/strong><br>Catherine Clifford<br>cclifford@greenbriarequity.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Acquisition Will Expand Solera&#8217;s Fleet Solutions and Vehicle Solutions and Further Strengthen its Position as the Global Leader in AI-Powered Software and Data Services Across the Vehicle Lifecycle&nbsp; WESTLAKE, Texas, Feb. 1, 2022 \u2013 Solera Holdings, LLC (&#8220;Solera&#8221;), the leading global provider of integrated vehicle lifecycle and fleet management software-as-a-service, data, and services, today announced [&hellip;]<\/p>\n","protected":false},"author":18,"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":[],"topic":[],"resource-type":[62],"class_list":["post-872","post","type-post","status-publish","format-standard","hentry","category-press","resource-type-news-press"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.8 (Yoast SEO v26.2) - 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