Leeds based vehicle data business CAP Automotive has been acquired by Solera Holdings inc, the San Diego, US based software and services firm which owns automotive brands including HPI and Audatex.
Solera who operate in over 70 other countries say that the acquisition of CAP creates the only UK-based enterprise with decision support data and software solutions spanning vehicle valuation, validation, collision and mechanical repair and total cost of ownership.
Talking about the move, Ian Rendle, CAP Automotive CEO said, “CAP’s market-leading data, risk and asset management expertise, and dedication to enabling informed customer decisions makes us a natural fit in the Solera family. In taking this exciting step, I am most excited by the opportunities it will bring for our customers. Solera’s proven track record and disciplined investments in true ‘end to end’ risk and asset management tools will allow CAP to expand our own recognised solutions into a variety of other applications and international markets. This partnership and the combined power of CAP’s and Solera’s data assets will enable us to deliver immediate wins for our customers and bring unique value I am already keenly aware the market is looking to CAP to provide.”
Tony Aquila, Solera’s founder, Chairman and Chief Executive Officer, said, “The acquisition of CAP is the latest in a series of investments in Solera’s risk and asset management strategy, adding capabilities that create a unique ‘digital garage.’ Expanding Solera’s valuation services through CAP will connect Solera’s investments and grow its presence in each phase of the vehicle lifecycle, from purchase, through SMR, to sale or salvage. Expanding from the UK across advanced European markets, CAP data will enable households to make informed, market-driven decisions affecting their automotive assets.”
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