Vista Equity Partners

Solera lays off staff via Teams, video goes viral on TikTok

Vehicle life cycle management software provider Solera Holdings Inc. is going viral for all the wrong reasons.

Solera conducted a round of layoffs via Teams on Monday. Unbeknownst to company officials, the cutback announcement was filmed by one of its employees and later posted on TikTok.

@liz_queenvirgo

Solera let us go on teams and didnt mute us. I posted and deleted because i felt bad, but these people didnt feel bad for us so fk it, whatever happens HAPPENS. I am in need of a JOB,...

https://www.freightwaves.com/news/solera-lays-off-staff-via-zoom-video-goes-viral-on-tiktok

Omnitracs’ layoffs and product concerns are nothing new, source says

Tensions are still high among employees and executives at risk and asset management solutions provider Solera and its newly acquired companies Omnitracs and DealerSocket.

After approximately 30% of employees at Omnitracs, a fleet telematics company, and DealerSocket, an automotive SaaS provider, were laid off or given notice they would be laid off on Oct. 22, remaining employees and executives face an uncertain future.

According to a former Omnitracs human resources employee, this uneasy working...

https://www.freightwaves.com/news/omnitracs-layoffs-and-product-concerns-are-nothing-new-source-says

Exclusive: Massive layoffs hit Omnitracs and DealerSocket

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

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’s SPAC exit of Omnitracs on ice

What a difference a few days make.

Earlier this month, Vista Equity Partners was in talks to combine its auto technology trio — Omnitracs, Solera Holdings Inc. and DealerSocket — to go public under blank-check firm Apollo Strategic Growth Capital (NYSE:APSG). 

Bloomberg reported on Thursday, however, that the potential $15 billion transaction has been halted, according to people familiar with the matter, and it is unclear if talks will continue. 

Reports are attributing this to the recent decline...

https://s29755.pcdn.co/news/vistas-spac-exit-of-omnitracs-on-ice

Vista eyes SPAC for another attempt at Omnitracs exit

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

Tech battle: Omnitracs claims Platform Science infringed on its technology patents

Omnitracs sues Platform Science

Omnitracs has filed a lawsuit against Platform Science in the Southern District of California, alleging that Platform Science has infringed upon its technology patents.

In the suit, Omnitracs LLC et al v. Platform Science Inc., Omnitracs alleges that Platform Science has violated seven Omnitracs patents. Omnitracs is seeking a jury trial. The suit was filed on Tuesday.

Omnitracs, the dominant onboard platform for the for-hire trucking space, has been fighting a number of new startups in recent...

https://www.freightwaves.com/news/tech-battle-omnitracs-claims-platform-science-infringed-on-its-technology-patents

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