(Image source: Hendricks Architecture, Sandpoint, Idaho.)
Solera Holdings, Inc., a Westlake, Texas-based provider of digital solutions for personal lines P&C insurance, has entered into a definitive agreement to acquire 100 percent ownership of Enservio, Inc. which a Solera statement describes the largest U.S. provider of SaaS-based software and services to the property contents insurance marketplace. The transaction, which Solera says aligns accretively with what it calls its Invent & Acquire (“I&A”) strategy, will accelerate the delivery of next-generation Digital Home applications for Solera’s partners and property owners worldwide, according to the vendor.
Tony Aquila, Founder, Chairman and CEO, Solera.
“Solera’s mission is to create the smartest digital solutions that advance the ways we manage and protect life’s most important assets,” comments Tony Aquila, Solera’s founder, Chairman and CEO. “Our culture of doing it right, better and different is the foundation of our business, while our I&A system—which enables us to identify and integrate synergistic technologies anywhere in the world—provides the agility to innovate and proliferate our product platforms with extreme accuracy, performance and speed.”
Solera, founded in 2005, characterizes the acquisition as part of building upon digital solutions for property claims—including predictive analytics and preemptive fraud detection, contents management—provided by LYNX Services and sachcontrol, and personal identity verification and security—provided by Explore Data and Digidentity. A Solera statement says that the announced acquisition of Enservio will add another component to Solera’s expanding capabilities in the digital protection of all assets that are important to customers’ ways of life.
Speeding the Pace of Innovation
“With more than $10 billion in contents claims history, Enservio’s solutions are trusted by the finest and most reputable insurers in the U.S.,” Aquila adds. “We look forward to working with Enservio’s leadership team to deliver even more innovative solutions to all participants in the asset ownership marketplace—at a pace faster than ever before.”
The acquisition of Enservio is subject to certain closing conditions and is expected to close during the quarter ended September 30, 2016. In late 2015, Solera announced its shareholders’ adoption of a merger agreement whereby an affiliate of Vista Equity Partners will acquire Solera for $55.85 per share in cash.
Solera Stockholders Approve Acquisition by Vista Equity Partners