Solera announced that it has signed a definitive agreement to acquire device-independent telematics and connected vehicle intelligence company Spireon from Greenbriar Equity Fund.
Solera’s strategic acquisition of Spireon will further strengthen its position in AI-powered software, services, and data assets to four critical pillars of the vehicle lifecycle: Vehicle Claims, Vehicle Repair, Vehicle Solutions, and Fleet Solutions.
“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. 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,” said Darko Dejanovic, Chief Executive Officer, Solera.
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. Spireon delivers powerful insights to help customers in these sectors track, manage and protect their most valuable assets.
