Apollo Strategic Growth Capital Archives

Exclusive: Massive layoffs hit Omnitracs and DealerSocket

23 July 2021

A significant number of employees at logistics telematics company Omnitracs and SaaS provider DealerSocket were laid off this week, two months after both companies were acquired by Solera Holdings Inc. Many other employees received 90-day notices in a massive restructuring plan by Solera, a major player in risk and asset management data and software.

A project manager at DealerSocket said more than 200 people are being laid off from his company, and that potentially up to 35% of all staff from...

https://www.freightwaves.com/news/exclusive-massive-layoffs-hit-omnitracs-and-dealersocket

Solera to acquire Omnitracs and DealerSocket

17 May 2021

Solera Holdings Inc., an automotive and insurance software company, has announced it has reached an agreement to acquire Omnitracs, a leader in transportation and logistics telematics, and DealerSocket Inc., an enterprise relationship management tool designed for the automotive industry. Financial terms of the agreement were not disclosed.

The acquisition would create an integrated platform leveraged by aggregated data that could handle all touch points of a vehicle’s life cycle.

“Solera is the...

https://s29755.pcdn.co/news/solera-to-acquire-omnitracs-and-dealersocket

Vista eyes SPAC for another attempt at Omnitracs exit

11 March 2021

The blank-check firm Apollo Strategic Growth Capital (NYSE:APSG) is in talks to combine three of Vista Equity Partners’ auto technology companies to go public, according to a Bloomberg report. The portfolio companies — Solera Holdings Inc., DealerSocket Inc. and Omnitracs — are reported to be valued at $15 billion and could reach a deal within weeks.

The SPAC combination would be at least the fourth time Vista has tried to exit its investment in Omnitracs, and a merger with Vista portfolio...

https://s29755.pcdn.co/news/vista-eyes-spac-for-another-attempt-at-omnitracs-exit