Solera Says It’s Exploring Strategic Alternatives

Solera Holdings Inc., which sells risk-management software to insurers, said on Thursday that it’s exploring a variety of strategic alternatives.

The company, based in Westlake, Texas, is exploring a sale that has attracted interest from private-equity firms, people familiar with the matter said this week.

Solera said in a statement that its board has formed a special committee to explore options and retained Centerview Partners LLC as financial adviser. Sullivan & Cromwell is acting as legal adviser. Rothschild Inc. is advising the company, according to the statement.

“There can be no assurance that the exploration of strategic alternatives will result in a transaction,” Solera said. “The company does not expect to make further public comment regarding these matters while its exploration process continues.”

Solera, which has a market value of about $3.3 billion, has approached buyout firms including Pamplona Capital Management and Thoma Bravo LLC, according to the people familiar with the matter.

Solera’s shares slipped about 5 percent this year through Wednesday. The insurance software and services provider has been a prolific acquirer in recent years, with 10 purchases since the beginning of 2014, according to data compiled by Bloomberg. The largest was a $595 million deal for Identifix Inc., a maker of software designed to boost the efficiency of automotive-repair shops.

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