Solera is a leading provider of risk and asset management software and services to automotive and property marketplace. The firm has long-established operations in the UK, and it is active in more than 70 other countries worldwide.

Solera said the acquisition of CAP creates the only UK-based enterprise with decision support data and software solutions spanning vehicle valuation, validation, collision and mechanical repair and total cost of ownership. 

In a statement the company said that: ‘As a Solera company, CAP will be able to leverage the numerous synergies across Solera’s global platform, enabling the rapid development and deployment of solutions that will add unique value to both CAP and Solera customers.’

Tony Aquila, Solera's founder, chairman and CEO, added: ‘The acquisition of CAP is the latest in a series of investments in Solera’s risk and asset management strategy, adding capabilities that create a unique “digital garage”. Expanding Solera’s valuation services through CAP will connect Solera’s investments and grow its presence in each phase of the vehicle lifecycle, from purchase, through SMR, to sale or salvage. Expanding from the UK across advanced European markets, CAP data will enable households to make informed, market-driven decisions affecting their automotive assets.’

Ian Rendle, CAP Automotive CEO, commented: ‘CAP’s market-leading data, risk and asset management expertise, and dedication to enabling informed customer decisions makes us a natural fit in the Solera family. In taking this exciting step, I am most excited by the opportunities it will bring for our customers.

Solera’s proven track record and disciplined investments in true “end-to-end” risk and asset management tools will allow CAP to expand our own recognised solutions into a variety of other applications and international markets. This partnership and the combined power of CAP’s and Solera’s data assets will enable us to deliver immediate wins for our customers and bring unique value I am already keenly aware the market is looking to CAP to provide.’