Solera To Acquire Vehicle Intelligence Company Spireon

Solera Holdings has signed a definitive agreement to acquire Spireon, one of North America’s largest device-independent telematics and connected vehicle intelligence companies, from Greenbriar Equity Group.

According to Solera, the acquisition will strengthen its position as a leading provider of AI-powered software, services and data assets to four critical pillars of the vehicle lifecycle – claims, repair, solutions and fleet solutions.

Solera said Spireon serves more than 13,000 customers in the automotive, fleet, trailer and asset sectors, with nearly four million connected devices generating over 900 billion discrete data points on its cloud native IoT platform each year.

“This acquisition is strategically aligned with our existing fleet and dealership growth strategies and will expand our customer base. It increases our total addressable market and adds significant opportunities for cross-selling and solution integration that benefit customers,” said Darko Dejanovic, Chief Executive Officer at 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.”

Kevin Weiss, Chief Executive Officer of Spireon, said he is excited about the acquisition and the opportunities it will bring 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.

Michael Weiss, Managing Partner at Greenbriar, said the company was proud to have partnered with the team at Spireon. “By driving product innovation, commercial acceleration and supply chain scalability, we’re pleased to have supported the company through a period of strong performance. Spireon is poised for breakout growth as part of Solera,” he said.

The acquisition is expected to close in the first calendar quarter of 2022.