Solera Holdings has entered into a definitive agreement to acquire Autodata as part of ambitious plans to “digitise vehicle ownership”.
The global leader in data and software for the automotive industry, and owner of Cap HPI, is keen to benefit from Autodata’s expertise in delivering fully digital cloud-based diagnostics and repair intelligence for professional mechanics.
Autodata has been owned by Bowmark Capital and Rothschild & Co’s Five Arrows Principal Investments since 2014 and is powered by data from 136 vehicle manufacturers covering over 40,000 models worldwide.
Its solutions today are deployed by over 90,000 repair shops in over 40 countries.
Solera sees the UK-based provider as being a key component of its future plans as afterasakles operators lookk to embrace connected cars and meet the needs of a more demanding motorist.
Tony Aquila, Solera’s founder, chairman and chief executive, said: “Throughout a car’s life, there are over 54 transactions that occur between motorists and automotive businesses.
“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.
“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.”
Rod Williams, chief executive of Autodata, said that modern 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”.
He added: “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.”