WESTLAKE, TX (AP) — Solera is being acquired by an affiliate of private equity firm Vista Equity Partners for about $3.74 billion in cash.
The company, which makes insurance claims software, said last month that it was exploring a sale.
Shareholders of Solera Holdings Inc. will receive $55.85 for each share they own. That's a 13 percent premium to the Westlake, Texas, company's Friday closing price of $49.45.
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The companies put the deal's value at about $6.5 billion, including debt.
Solera's board unanimously approved the acquisition.
The transaction is targeted to close no later than 2016's first quarter. It still needs approval from Solera shareholders.
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