Solera To Buy Rest Of Identifix

(RTTNews) - Solera Holdings, Inc. (SLH), a provider of risk and asset management software and services to the automotive and property marketplace, said Monday that it has agreed to buy 100% ownership of Identifix, a data-driven software-as-a-service company within the $8 billion vehicle service, maintenance and repair total addressable market.

Solera purchased 50% of Identifix in November 2013 in connection with its Service Repair Solutions joint venture with Welsh Carson Anderson & Stowe. Solera subsequently expanded its vehicle lifecycle footprint with the acquisitions of automotive service and customer relationship management software companies AutoPoint, Service Dynamics and DMEautomotive.

The equity purchase agreement provides that Solera will purchase the remaining Service Repair Solutions joint venture interests from Welsh Carson Anderson & Stowe for a purchase price of about $594.8 million in cash plus Welsh Carson Anderson & Stowe's approximate share of Service Repair Solutions' present cash balance, which share is $25 million.

The acquisition expected to close immediately after the closing of Solera's senior notes financing also announced Monday.