Solera Holdings Inc. said Dec. 12 one of its subsidiaries has signed a definitive agreement to acquire 100 percent of Distribution Services Technologies Inc. The transaction is subject to certain conditions to closing and is expected to close by the third quarter of Solera’s fiscal year 2014. Terms of the acquisition were not disclosed.
Based in California, DST is a leading provider of B2B e-commerce, ERP support and analytics solutions for automotive mechanical part distributors in North America. Through its cloud-based procurement solutions, DST connects mechanical aftermarket, heavy duty and OEM parts suppliers with repair shops, dealerships and fleet consumers, driving revenues and lowering operating costs. The acquisition will strengthen Solera’s parts platform and expand its parts strategy to cover mechanical parts and will connect directly to both its insurance claims and service maintenance repair platforms to reduce cycle time and create industry-leading accuracy in part selection, according to Tony Aquila, Solera’s founder, chairman and chief executive officer.
“The combination of DST’s mechanical parts expertise with our Hollander and APU businesses represents a significant step forward in expanding our parts platform to serve both the mechanical and collision markets in North America and beyond,” Aquila said. Solera Holdings Inc., a global provider of software and services to the automobile insurance claims processing and decision support industries, is headquartered in Westlake and trades on the New York Stock Exchange under the symbol SLH. – Betty Dillard