Solera Holdings Inc., a Westlake-based global provider of data and software for the automotive, home ownership and digital identity management ecosystems, has acquired RedCap Technologies LLC, a mobility and logistics platform aimed at improving sales and service experiences for customers.
“Customer experience, convenience and transparency in car and fleet management and ownership is paramount in securing loyalty,” said Tony Aquila, founder, chairman and CEO of Solera.
“RedCap enhances dealership customer convenience, providing one-touch secure access to efficient mobility and logistics solutions to drive increased customer satisfaction,” said Aquila.
“We continue to invest and innovate to further the reach of our Digital Garage platform, which addresses the critical 54 automotive and 250 fleet lifecycle transactions. We are proud to be an innovator in emerging technologies, including secure mobility industrial block chain technology, to protect our most important assets and enhance our quality of life,” Aquila said.
RedCap’s technology, which includes an API, dealer management system integration, and a white-labeled product for dealers and OEMs, will be an integrated module of the Solera Digital Garage platform, which enables secure and efficient interactions among all transaction participants. Solera announced the acquisition on March 23.
Earlier in March, Solera and MAPFRE S.A., a global insurer with presence on five continents, announced that their existing joint venture, Solera Technology Centre GmbH (STC), had signed a definitive agreement to acquire CESVI (Center for Experimentation and Road Safety) Brasil.
The acquisition is subject to closing conditions, including approval by the Brazilian competition regulatory authority.
CESVI Brasil is a leading automotive research and experimentation center in Brazil, focused on providing insight, safety guidelines and transparency, including training for vehicle repair facilities and their technicians, insurers, original equipment manufacturers, and governmental entities.
Founded in 2011, STC was created to leverage Solera’s and MAPFRE’s ability and desire to make testing and training available to all participants in the automotive repair industry.
Since its inception in 2005, Solera has grown with more than 40 acquisitions across its risk management solutions, service maintenance and repair, and customer retention management platforms.
The company’s current products include Audatex, AutoPoint, CAP/HPI, Digidentity, Enservio, Explore Data, Hollander, Identifix, Inpart, LYNX and TitleTec as well as the company’s flagship Digital Garage application.
Today, Solera processes more than 240 million transactions annually for 235,000 partners and customers in nearly 90 80 countries.
Solera went public on the New York Stock Exchange in 2007, joined the S&P 400 in 2009, and went private in 2016 in a $6.5 billion transaction backed by leading investors that include Vista Equity Partners, Koch Industries and Goldman Sachs.