Austin-based investment firm Vista Equity Partners is combining three of its auto technology companies in a move that could signal it’s prepping for a public offering.
Westlake-based Solera Holdings Inc., which develops risk management software for the auto and home insurance industry, is acquiring auto software companies DealerSocket and Omnitracs. The acquisitions are expected to close in the second quarter.
Terms of the deal weren’t disclosed.
Irving-based DealerSocket, founded in 2001, has over 9,000 automotive dealerships using its platform for customer relationship management, digital retailing and marketing, inventory management and analytics. Dallas-based Omnitracs has nearly 15,000 customers in the trucking industry that use its software for compliance, workflow, routing and video safety.
Joining DealerSocket with Solera will make a powerful one-stop-shop product to market to dealerships, DealerSocket CEO Sejal Pietrzak said in a statement.
“The combination … allows us to offer dealerships a fully unified platform to simplify workflows and enables us to become the digital backbone across all areas of a connected dealership, simplifying and improving the retail experience,” she said.
In March, Vista Equity Partners, founded in 2000 by billionaire Robert Smith, was reportedly talking with blank-check firm Apollo Strategic Growth Capital about adding the two auto software companies to Solera before taking it public, Bloomberg reported. The deal was valued at $15…