Solidifying its Leadership Position in Global Solutions for Vehicle and Driver Performance
WESTLAKE, Texas, June 2, 2021 /PRNewswire/ -- Solera Holdings, Inc. ("Solera") today announced that it has acquired eDriving, the digital driver risk management partner for many of the world's largest commercial fleets. This acquisition expands Solera's position as the preeminent global data intelligence and technology leader serving all constituents engaged in vehicle lifecycle management.
eDriving identifies and remediates risky commercial driver behavior. The company's flagship product, Mentor by eDrivingSM, provides a unique smart-phone-based driver safety solution that uses telematics to analyze operator behavior in real time, improving roadway safety. It also generates a FICO® Safe Driving Score to benchmark drivers against their peers and deploys safe-driving e-Learning programs in an easy-to-implement, highly secure environment.
eDriving complements Solera's existing fleet assets, including the recently-announced pending strategic acquisition of Omnitracs, including Omnitracs's SmartDrive business, that will further expand Solera's reach into adjacent global fleet markets.
Global Fleet Leadership and Growing Market Opportunity
With operations in more than 90 countries, Solera is the global software and data leader in vehicle lifecycle management. The acquisition of eDriving allows Solera to deepen its focus beyond the vehicle into driver behavior and risk analytics. Solera's SuperVision® brand, along with Omnitracs and SmartDrive, have long been recognized as leaders in helping their clients manage, control, and reduce their fleet risk exposure. Now, with eDriving's suite of smartphone telematics, Solera customers have access to end-to-end fleet management solutions.
"Solera is committed to advancing digital fleet management through cutting-edge technology and real time data that improves business outcomes," said Darko Dejanovic, Chief Executive Officer of Solera. "eDriving's suite of driver safety and risk reduction solutions will further enhance our existing products as well as uniquely bridge the gap between vehicle and driver performance on a global scale."
eDriving's risk management program has helped organizations in 125 countries improve road safety and lower the total cost of fleet ownership. Using one convenient platform, customers have access to a comprehensive risk data set that identifies driving incidents, license violations and risky behaviors.
"This is a strategic next-step in our long-standing partnership with Solera and creates tremendous global market opportunities for both companies. New and existing customers will have access to innovative solutions that improve road safety and protect their employees," said Ed Dubens, founder and Chief Executive Officer of eDriving.
Solera is the preeminent global data intelligence and technology leader serving all constituents engaged in vehicle lifecycle management. Solera's data-driven intelligence is unmatched, with more than one billion transactions annually, and delivers mission-critical solutions to minimize complexity and reduce friction at all touch points in the vehicle lifecycle. Solera's solutions empower smarter decision-making through software, enriched data, proprietary algorithms, and machine learning that come together to deliver insights to our customers and accelerate business outcomes. Solera serves over 235,000 global customers and partners in more than 90 countries across six continents. By drawing on the market-leading solutions, Solera provides unsurpassed scale and strength with superior performance while delivering innovation to drive the industry forward. For more information, visit www.solera.com.
eDriving helps organizations around the world improve safety, reduce injuries, license violations, carbon emissions, and total cost of fleet ownership through its patented digital driver risk management programs. These include the Mentor by eDrivingSM smartphone app with FICO® Safe Driving Score; the patented, five-stage Crash-Free Culture® risk reduction program; and the Virtual Risk Manager® platform, all designed to work in an integrated fashion within a privacy-first, data-secure environment that supports drivers and their managers every step of the way. eDriving is the digital driver risk management partner of choice for many of the world's largest organizations, supporting over 1,200,000 drivers in 125 countries. Over the past 25 years, eDriving's research-validated programs have been recognized with over 100 awards around the world. For more information, visit www.edriving.com.
Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements about: the expected financial, operational and strategic benefits of the acquisition of eDriving (the "Acquisition"); the expected benefits and value of current and future products and services to Solera's and eDriving's customers, either alone or in conjunction with the products and services of other Solera group companies; and operational efficiencies that may be achieved by the combined companies as a result of the Acquisition. These statements are based on Solera's current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially from such forward-looking statements. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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SOURCE Solera Holdings, Inc.