Saturday, October 23, 2021
71.5 F
Fort Worth

Vista Equity affiliate buying Westlake-based Solera for $3.74B

🕐 1 min read

WESTLAKE, Texas (AP) — Solera Holdings Inc. is being acquired by an affiliate of private equity firm Vista Equity Partners for about $3.74 billion in cash.

The company, which makes insurance claims software, said last month that it was exploring a sale.

Shareholders of Solera will receive $55.85 for each share they own. That’s a 13 percent premium to the Westlake, Texas, company’s Friday closing price of $49.45.

The companies put the deal’s value at about $6.5 billion, including debt.

Solera’s board unanimously approved the acquisition.

The transaction is targeted to close no later than 2016’s first quarter. It still needs approval from Solera shareholders.

Solera’s stock gained $4.05, or 8 percent, to $53.50 before the opening bell on Monday.

Related Articles

Our Digital Sponsors

Latest Articles

Texas Rangers
Fort Worth Business Press Logo
This advertisement will close in
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate