Vista Equity Partners is in talks to add two portfolio companies to its deal for Solera Holdings Inc. to go public through a merger with blank-check firm Apollo Strategic Growth Capital, according to people familiar with the matter. The portfolio companies that Vista would combine with Solera are DealerSocket Inc. and Omnitracs, the people said, asking not to be identified because the matter is private. The expanded deal would be valued at about $15 billion, the people said.
The discussions are advanced and a deal could be reached within weeks, the people said. Talks could still fall apart or the terms of the deal could still change. All of the companies are related to technology serving the autos space. Bloomberg News previously reported that Solera was in talks with the special purpose acquisition company, or SPAC, sponsored by an affiliate of buyout firm Apollo Global Management Inc. Vista took Solera private in 2016 at a valuation of more than $6.5 billion, including debt.
Vista first invested in DealerSocket in 2014, a statement showed at the time. It acquired Omnitracs from Qualcomm Inc. in 2013 for $800 million in cash. Omnitracs has about $900 million in debt, according to data compiled by Bloomberg.
Source: BNN Bloomberg
By Liana Baker, Gillian Tan and Crystal Tse
