Solera Holdings

Solera Holdings is a provider of insurance and vehicle loss management software and services. As of September 2015, the company processes more than 230 million insurance operations annually in 75 countries of the world, including Russia, where Solera operates through Audatex.

2015: Solera sold for $6.5 billion

On September 14, 2015, the sale of Solera to private equity firm Vista Equity Partners was announced. The value of the transaction, taking into account the net debt of the American manufacturer, is $6.5 billion.

Under the terms of the agreement, Vista will pay Solera shareholders $55.85 in cash for each security they own, which is 53% more than the exchange value as of August 3, 2015, The New York Times notes.

Vista Equity Partners investment firm buys Solera for $6.5 billion

The deal, scheduled to close by the first quarter of 2016, has already been approved on Solera's board, which will now recommend shareholders do the same.

"This transaction, which is a landmark event for Solera and Vista to collaborate, will instantly provide high shareholder value," says Solera founder and CEO Tony Aquila. "It not only symbolizes the recognition of the innovative work of the company and the talent of its employees, but will also give us optimal flexibility to sell our world-class solutions and services to customers."

Vista's financial partners in the acquisition of Solera will be subsidiaries of Goldman Sachs Bank and investment company Koch Equity Development. Vista is advised by J.P. Morgan Securities.

The fact that Solera could be sold was discussed in the media in August 2015, when the company announced the start of studying "various strategic alternatives" regarding its business and turned to a financial adviser Rothschild for help. At the same time, the vendor's board of directors hired the law firm Sullivan & Cromwell and the consulting Centerview Partners to assess possible transactions.^[1]

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