Solera Holdings LLC, a provider of integrated vehicle lifecycle and fleet management software, has acquired Spireon, one of North America’s largest device-independent telematics and connected vehicle intelligence companies.
Solera’s acquisition of Spireon from the Greenbriar Equity Fund will further strengthen Solera’s position as a provider of AI-powered software, services, and data assets to four critical pillars of the vehicle lifecycle: Vehicle Claims, Vehicle Repair, Vehicle Solutions, and Fleet Solutions.
Spireon currently serves over 13,000 customers in the automotive, fleet, trailer and asset sectors with nearly 4 million connected devices that generate over 900 billion discrete data points on its cloud native IoT platform each year.
“This acquisition increases our total addressable market and adds significant opportunities for cross-selling and solution integration,” said Darko Dejanovic, chief executive officer of Solera. “Bringing together Spireon’s IoT platform and Solera’s data assets creates a powerful, intelligent network that we believe improves safety, efficiency, and productivity across the vehicle lifecycle. Every addition to our data assets allows us to enhance a continuous cycle of insights that solves the issues our customers face today while proactively addressing the challenges they will face tomorrow.”
Spireon CEO Kevin Weiss said the acquisition offers opportunities to customers and employees.
“Solera’s position as a growing, global leader can bring new avenues to expand Spireon’s IoT platform and solutions to address new customer challenges as well as global markets,” he said.
Subject to customary closing conditions and regulatory approval, the acquisition is expected to close in the first calendar quarter of 2022.