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Solera to acquire Omnitracs and DealerSocket

Solera Holdings is set to acquire Omnitracs, a complete fleet management platform, and DealerSocket, a leading SaaS provider to the automotive industry.

The company expects these acquisitions to extend its position as the “preeminent global data intelligence and technology leader” serving all constituents engaged in vehicle lifecycle management. The acquisitions are expected to close during Q2 2021.

“These acquisitions will build upon Solera’s strategy to minimise complexity and reduce friction at all touchpoints in the vehicle lifecycle with fully integrated intelligent technology platforms,” the company says.

Darko Dejanovic, CEO of Solera adds: “Solera is the driving force behind the rapid digitisation of the vehicle lifecycle, delivering intelligent, data-driven, mission-critical solutions for our customers.

“These highly strategic acquisitions will enable us to expand into adjacent verticals and capitalise on emerging trends in our industry. Solera’s unique position in a large and growing market allows us to transform the industry through innovation, proprietary data assets, unmatched scale and deep customer relationships.”

With Omnitracs, Solera says it will offer a unified platform that encompasses safety, productivity and maintenance solutions for commercial fleets.

“By joining Solera, Omnitracs will be able to further extend our converged solutions, both in and on the vehicle, into fleet lifecycle management services while also extending our access to new markets,” says Ray Greer, chief executive officer of Omnitracs.

According to Solera, the addition of DealerSocket’s cutting-edge platform completes an end-to-end suite of solutions for automotive dealerships, combining customer acquisition and retention solutions, inventory management, dealership management systems, e-titling and a unique service and maintenance platform.

“The combination of DealerSocket with Solera allows us to offer dealerships a fully unified platform to simplify workflows and enables us to become the digital backbone across all areas of a connected dealership, simplifying and improving the retail experience. We are thrilled to join the Solera team,” states DealerSocket CEO, Sejal Pietrzak.