WESTLAKE, T.X. — May 17, 2021 — Solera Holdings, Inc. (“Solera”) today announced that it will acquire Omnitracs, a complete fleet management platform, and DealerSocket, a leading SaaS provider to the automotive industry. These acquisitions will extend Solera’s position as the preeminent global data intelligence and technology leader serving all constituents engaged in vehicle lifecycle management.
Global Leadership in Vehicle Lifecycle Management
With operations in more than 90 countries, Solera is the global technology leader operating in a highly complex vehicle lifecycle management ecosystem. Solera’s software and unique data assets power the value-chain of a vehicle from purchase to claims, repair and resale. These acquisitions will build upon Solera’s strategy to minimize complexity and reduce friction at all touchpoints in the vehicle lifecycle with fully integrated intelligent technology platforms.
“Solera is the driving force behind the rapid digitization of the vehicle lifecycle, delivering intelligent, data-driven, mission-critical solutions for our customers,” said Darko Dejanovic, Chief Executive Officer of Solera. “These highly strategic acquisitions will enable us to expand into adjacent verticals and capitalize on emerging trends in our industry. Solera’s unique position in a large and growing market allows us to transform the industry through innovation, proprietary data assets, unmatched scale and deep customer relationships.”
With Omnitracs, Solera will offer a unified platform that encompasses safety, productivity and maintenance solutions for commercial fleets.
“By joining Solera, Omnitracs will be able to further extend our converged solutions, both in and on the vehicle, into fleet lifecycle management services while also extending our access to new markets,” said Ray Greer, Chief Executive Officer of Omnitracs.
The addition of DealerSocket’s cutting-edge platform completes an end-to-end suite of solutions for automotive dealerships, combining customer acquisition and retention solutions, inventory management, dealership management systems, e-titling and a unique service and maintenance platform.
“The combination of DealerSocket with Solera 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. We are thrilled to join the Solera team,” said Sejal Pietrzak, Chief Executive Officer of DealerSocket.
The acquisitions are expected to close during the second quarter of calendar year 2021, subject to definitive agreements that will include customary closing conditions, including regulatory approvals. Financial terms were not disclosed.
Kirkland & Ellis LLP is advising Solera on the acquisition. Greenberg Traurig, LLP is serving as legal counsel to Omnitracs and Ropes & Gray LLP is serving as legal counsel to DealerSocket.
Solera is a global leader in risk and asset management data and software, empowering companies across the automotive and insurance ecosystem with trusted solutions to support connectivity across the vehicle value chain. Solera’s solutions bring together customers, insurers, and suppliers, empowering smarter decision-making through service, software, enriched data, proprietary algorithms, and machine learning that come together to deliver insight and are designed to ensure customers’ vehicles and property are optimally maintained and expertly repaired. Solera serves over 235,000 customers and partners in more than 90 countries across six continents. By drawing on the market-leading solution capabilities and business process best practices from its technologies around the world, Solera provides unsurpassed scale and strength with superior performance while delivering innovation to move the industry forward.
Omnitracs offers the only complete fleet intelligence software platform. Serving the largest for-hire and private fleets in the transportation and distribution industries, Omnitracs’s best-in-class solutions accelerate business success, improve efficiency, and enhance the driver experience for nearly 15,000 customers who collectively travel 250 million miles per week. Omnitracs pioneered digital transformation in trucking more than 30 years ago, and today offers a one-stop shop for enterprise-grade, data-driven solutions across compliance, telematics, workflow, routing, and video safety in over 50 countries across the globe. For more information, visit www.omnitracs.com.
DealerSocket serves over 9,000 automotive dealerships with best-in-class solutions for customer relationship management, digital retailing/marketing, websites, inventory management and analytics solutions, as well as leading enterprise-level dealership management systems. DealerSocket solutions transform the automotive experience with innovations and unparalleled, award-winning customer service. For more information, visit www.dealersocket.com.
Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements about: the expected execution of definitive agreements relating to, and expected consummation of, Solera’s acquisitions of Omnitracs and DealerSocket (together, the “Acquisitions”); the expected financial, operational and strategic benefits of the Acquisitions; the expected benefits and value of current and future products and services to Solera’s, Omnitracs’s and DealerSocket’s customers, either alone or in conjunction with the products and services of other Solera group companies; and operational efficiencies that may be achieved by the combined companies as a result of the Acquisitions. These statements are based on Solera’s current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially from such forward-looking statements. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Joele Frank, Wilkinson Brimmer Katcher
Jed Repko / Ed Trissel
SOURCE Solera Holdings, Inc.
ALBANY, N.Y. — February 15, 2021 — Auto/Mate, a business unit of DealerSocket, Inc., today announced approval from Volvo Car USA, LLC, as a certified Dealership Management System provider to the luxury carmaker’s network of approximately 280 U.S.-based retailers, who can now transmit data directly to Volvo’s Dealership Communications System (DCS) from Auto/Mate’s DMS as a result of a new, two-way integration.
Finalizing the Volvo certification is one of several projects DealerSocket kicked off last year after acquiring Auto/Mate in February 2020 to streamline workflows within each major area of the DMS, including accounting, service and parts, inventory management, and sales and F&I. The expansion of Auto/Mate’s OEM certifications represents a critical piece of these investment initiatives.
“We have not opened certification to a new DMS provider in years, so today’s announcement is significant. And it’s really about giving our retailers more choice and flexibility,” said Adam Clarke, vice president of retail network development at Volvo Car USA. “We have enjoyed working with Auto/Mate to this point, and they have committed to providing our retailer partners with good choices and great customer support.”
Today’s announcement covers the following integration points between Volvo’s DCS and Auto/Mate’s DMS:
“Reaching 100% OEM coverage for Auto/Mate’s DMS has been a top priority for DealerSocket since last year’s acquisition, with Volvo representing one of the last steps toward reaching that goal,” said Tony Graham, executive vice president and general manager of Auto/Mate for DealerSocket. “Today’s announcement also is a direct result of key investments in DMS technology that DealerSocket has made in Auto/Mate, and we are excited to begin engaging Volvo retailers as a newly certified DMS option for them — one capable of offering more value, great technology, and best-in-class support from a team of experienced car people at Auto/Mate.”
Auto/Mate is offering a special incentive to Volvo retailers and groups with a Volvo franchise that sign by Aug. 31, 2021. For details, call 877-340-2677.
ALBANY, N.Y., and NORTH HILLS, N.Y., January 11, 2021 — Auto/Mate, a business unit of DealerSocket, and F&I solutions provider Dealertrack today announce a new integration that connects Auto/Mate’s award-winning Dealership Management System (DMS) to Dealertrack’s Digital Contracting. The real-time data exchange is designed to streamline and automate a dealer’s digital contracting process, resulting in seamless contract submission, reduced errors from manual data entry, and faster deal funding.
Auto/Mate users simply log into Dealertrack Digital Contracting and enter the deal number to import the contract information from the DMS and populate the required data fields. All that is left is contract validation, having the customer sign electronically, and submission to the finance source for funding.
“Since the acquisition of Auto/Mate, we have directed significant investments toward streamlining workflows, reducing keystrokes, and addressing what matters most to dealers when it comes to their F&I operations: faster funding and reduced contracts in transit,” said DealerSocket Chief Product and Technology Officer Alok Tyagi. “Today’s announced integration with Dealertrack Digital Contracting accomplishes all three while giving our customers access to one of the industry’s leading providers of digital contracting.”
Recent Dealertrack user studies1 reveal that 60% of dealership F&I staff who have not yet adopted an eContracting solution feel DMS integration is the most important capability they lack.
“We view the DMS as the core of a dealer’s business and an enabler of everything they do. That’s why this integration with Dealertrack is so important, as digital contracting and eContracting represent a critical step toward delivering a digital car-buying experience,” said Tony Graham, executive vice president and general manager of Auto/Mate. “Enabling a seamless flow of data while preserving data integrity is equally critical for dealership employees operating in a fast-paced, results-oriented environment, and the elimination of unnecessary paper-pushing and user errors often results in steadier cash flow for the dealer.”
Cheryl Miller, vice president of operations for Dealertrack F&I Solutions, added: “With the addition of the Auto/Mate DMS integration, we advance our goal to have as many dealerships as possible benefitting from the ease of use of the completely digital contracting workflow that Dealertrack Digital Contracting can provide.”
Auto/Mate DMS customers must be on Dealertrack uniFI and signed up for the platform’s digital contracting enhancement to take advantage of the new integration.
1 Source: 2019 eContracting/Digital Contracting Research Study; (size=84)
We continue to think about all of you, our customers and partners, during this difficult time. This pandemic has caused deep challenges across our industry and for all of us, and I hope you know that DealerSocket continues to be here for our dealers. Our goal has been to strike the right balance between being prepared for our dealers and the market when our industry recovers and offering discounts to help our dealers as much as possible during this difficult time.
We will get through this, and we will get through this together. We are committed to fighting through this with you. We are beginning to see the first signs of positive trends as we climb out of the depths of the COVID-19 pandemic, and this has us all hopeful for the future.
In April, we heavily discounted our software for our dealers. In addition to our discounts in April, we have decided to offer the following DealerSocket billing reductions for May for all of our dealers:
We have already sent out our May invoices, so next week you will receive a credit memo for the above discounts. With that said, similar to our discount package last month, there are some basic qualifying terms listed below.
In addition to these discounts in April and May, DealerSocket continues to offer our customers several promotions and free months of certain software products to help you navigate this crisis. Our offers include promotions for:
Since we are adding promotions and various resources for dealers often, please view DealerSocket’s latest information by clicking here, and, as always, please feel free to reach out to your Customer Success Manager with any questions or if we can help in any way:
If you are not yet an Auto/Mate DMS customer, I hope you know that we can reduce your DMS bill significantly during these challenging times as well as into the future by switching to Auto/Mate DMS. We have several bundled packages that include our Auto/Mate DMS product combined with other DealerSocket products to support you.
Thank you for partnering with DealerSocket. I hope you know how much we value and appreciate your loyalty, partnership, and your business.
I wish you, your families, and your team members health in these unprecedented times.
CEO and President
Details regarding our COVID-19 relief package:
We’re excited to announce that Steve Zadoorian and Dave Druzynski have both taken on new, expanded roles at DealerSocket! In their new positions, Steve and Dave will ensure that DealerSocket and Auto/Mate customers and employees continue to benefit from an emphasis on customer support and company culture.
Steve Zadoorian has been named Senior VP Operations and Customer Care at DealerSocket. In his new role, Steve will lead the Installations and Customer Support teams for both DealerSocket and Auto/Mate. Under Steve’s leadership, Auto/Mate achieved a customer retention rate above 95 percent and has received multiple consecutive DrivingSales Dealer Satisfaction awards. Steve’s commitment to customer satisfaction has also helped to build Auto/Mate’s Net Promoter Score (NPS) to +59, a score that’s nearly double the software industry average of +31.
“My first goal is to integrate the support service teams so we have a common process; and also make sure we have a well-integrated and cohesive implementation process for new clients,” said Steve. “I look forward to bringing our teams and best practices together and ensuring that our customers remain highly satisfied.
Dave Druzynski has been named Vice President, People and Culture at DealerSocket.
In his new role, Dave will oversee the development of company culture and employee satisfaction. Under Dave’s leadership, Auto/Mate has received ten consecutive “Best Place to Work” awards by the Albany Business Review, and nine consecutive “Top Workplaces” awards by The Times Union.
“Employee happiness has always been a high priority at Auto/Mate and I am thrilled to work with the DealerSocket team who shares that same belief. Rather than just have one company’s culture consume the other, we plan to identify the best aspects of both cultures and merge them together as one team,” said Dave.
Dave and Steve will continue to operate from DealerSocket’s Albany, NY office.