Vehicle info firm Autodata has been acquired by Texas-based software company Solera Holdings Inc. The transaction amount is reported to be £340m.
Solera acquired the firm from private equity firms Bowmonk Capital and Five Arrows who in turn bought the company for a reported £143m through a competitive auction in 2014.
The Texan firm already owns Carweb which is the company behind E3 Technical, one of the other vehicle info services in the UK.
Founded in 1975, UK-based Autodata has evolved from publishing do-it-yourself manuals for car enthusiasts and garages, to delivering cloud-based diagnostics and repair info for professional technicians.
“Today’s motorists expect automotive service professionals not only to understand every vehicle make and model, but also to provide a faster and more accurate service at highly competitive prices,” said Rod Williams, CEO of Autodata. “Joining the Solera family will not only amplify Autodata’s ability to meet the growing needs of the industry, but will also provide our customers and partners with access to Solera’s highly innovative mindset and forward-thinking solutions.”
“Vehicles are not only being driven longer than ever before, but are becoming more technologically advanced and digitally sophisticated,” said Tony Aquila, Solera’s founder, Chairman and CEO. “The SMR industry must be prepared to manage this evolution in mobility with the right mindset, equipment and training. Solera’s integration of Autodata will accelerate delivery of the data and software that the global SMR marketplace needs today, as well as the innovative technologies and solutions that the industry will need tomorrow.”