Solera Holdings Inc., a global leader in data and software for the automotive, home ownership and digital identity management ecosystems, has entered into a definitive agreement to acquire Autodata, a leading provider of technical information and knowledge solutions for the automotive service, maintenance and repair (“SMR”) industry.
“Throughout a car’s life, there are over 54 transactions that occur between motorists and automotive businesses,” said Tony Aquila, Solera’s founder, chairman and CEO. “One of Solera’s missions is to digitize the vehicle ownership ecosystem by developing cognitive applications that not only power connectivity and engagement, but also proliferate awareness and transparency across the entire automotive lifecycle.”
Founded in 1975, U.K.-based Autodata has evolved from publishing iconic DIY manuals for car enthusiasts and garages, to delivering fully digital cloud-based diagnostics and repair intelligence for professional mechanics. Powered by data from 136 vehicle manufacturers covering more than 40,000 models worldwide, Autodata’s solutions today are deployed by more than 90,000 repair shops in more than 40 countries for best-in-class coverage, accuracy, reliability and efficiency, according to the company. Autodata has been owned by Bowmark Capital and Rothschild & Co’s Five Arrows Principal Investments since 2014.
“Solera’s proprietary ‘Invent & Acquire’ strategy drives both the innovation and proliferation of our data and software platforms,” said Aquila. “The acquisition of Autodata will not only complement our expanding/existing suite of digital SMR solutions, such as Identifix and Inpart, but will also accelerate the expansion of Solera’s asset protection and risk management solutions in emerging and maturing markets across the globe.”
As technology continues to rapidly drive complex automotive designs, vehicle repair shops increasingly demand sophisticated digital solutions that can enable and sustain efficient aftermarket operations with the highest levels of customer satisfaction.
“Today’s motorists expect automotive service professionals not only to understand every vehicle make and model, but also to provide a faster and more accurate service at highly competitive prices,” said Rod Williams, CEO of Autodata. “Joining the Solera family will not only amplify Autodata’s ability to meet the growing needs of the industry, but will also provide our customers and partners with access to Solera’s highly innovative mindset and forward-thinking solutions.”
“Vehicles are not only being driven longer than ever before, but are becoming more technologically advanced and digitally sophisticated,” said Aquila. “The SMR industry must be prepared to manage this evolution in mobility with the right mindset, equipment and training. Solera’s integration of Autodata will accelerate delivery of the data and software that the global SMR marketplace needs today, as well as the innovative technologies and solutions that the industry will need tomorrow.”
