Solera strengthens AI services

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

The acquisition from Greenbriar Equity Fund will further strengthen Solera’s position as a leading provider of AI-powered software, services, and data assets.

Spireon currently serves over 13,000 customers in the automotive, fleet, trailer and asset sectors with nearly four million connected devices generating over 900 billion data points.

Darko Dejanovic, chief executive officer of Solera, said: “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.”

Kevin Weiss, chief executive officer of Spireon, said: “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.”