Solera Holdings Inc., a global provider of software and services to the automobile insurance claims processing and decision support industries, said July 19 it will acquire Enservio Inc., the largest provider in the United States of SaaS-based software and services to the property contents insurance marketplace.
Terms of the acquisition were undisclosed. The acquisition is subject to certain closing conditions and is expected to close during the third quarter of 2016.
Founded in 2004 and backed by Bain Capital Ventures and Matrix Partners, Enservio is headquartered in Needham, Mass., with offices and professional staff across the U.S.
The acquisition of Enservio will expand Solera’s asset management and risk protection technologies, adding another component to the company’s Digital Home platform, according to Tony Aquila, Solera’s founder, chairman and CEO.
“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.,” said Aquila. “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.”
Founded in 2005, Solera Holdings Inc. is headquartered in Westlake. In 2007, Solera went public on the New York Stock Exchange and went private in 2016 in a $6.5 billion transaction backed by leading investors that included Vista Equity Partners, Koch Industries and Goldman Sachs. The company employs more than 5,500 people and is active in more than 78 countries. Solera’s product platforms include Audatex, AutoPoint, CAP/HPI, Digidentity, Explore Data, Hollander, Identifix, Inpart and TitleTec and its flagship application, Digital Garage.