CAP Automotive has been acquired by Solera Holdings, a provider of risk and asset management software and services to automotive companies.
Solera already owns data firms HPI and Audatex, used by motor retailers and the accident repair sector.
Solera said the acquisition of CAP creates the only UK-based enterprise with decision support data and software solutions spanning vehicle valuation, validation, collision and mechanical repair and total cost of ownership.
As a Solera company, CAP will be able to leverage the numerous synergies across Solera’s global platform, enabling the rapid development and deployment of solutions that will add unique value to both CAP and Solera customers.
“CAP’s market-leading data, risk and asset management expertise, and dedication to enabling informed customer decisions makes us a natural fit in the Solera family. In taking this exciting step, I am most excited by the opportunities it will bring for our customers,” said Ian Rendle, CAP Automotive CEO.
“Solera’s proven track record and disciplined investments in true ‘end to end’ risk and asset management tools will allow CAP to expand our own recognised solutions into a variety of other applications and international markets. This partnership and the combined power of CAP’s and Solera’s data assets will enable us to deliver immediate wins for our customers and bring unique value I am already keenly aware the market is looking to CAP to provide.”
“The acquisition of CAP is the latest in a series of investments in Solera’s risk and asset management strategy, adding capabilities that create a unique ‘digital garage.’
Expanding Solera’s valuation services through CAP will connect Solera’s investments and grow its presence in each phase of the vehicle lifecycle, from purchase, through SMR, to sale or salvage,” said Tony Aquila, Solera's founder, chairman and chief executive.
“Expanding from the UK across advanced European markets, CAP data will enable households to make informed, market-driven decisions affecting their automotive assets.”
Founded in 1979 and based in the UK, CAP’s data and information systems serve clients across a broad range of automotive-related sectors, including motor retail, fleet, finance and insurance.