Dealership technology company DealerSocket will be acquired by Solera Holdings Inc., which specializes in data and software for the insurance and automotive industries, Solera said Monday.
Terms of the deal were not disclosed, though Solera said in a news release that the acquisition is expected to close in the second quarter pending regulatory approval.
It was not immediately clear Monday what the acquisition will mean for DealerSocket, of Irving, Texas, which provides auto retailers with dealership management systems, customer relationship management platforms and other software.
DealerSocket representatives referred requests for comment to Solera, which declined to comment Monday beyond the news release. The companies declined to make executives available for an interview.
“The combination of DealerSocket with Solera allows us to offer dealerships a fully unified platform to simplify workflows and enables us to become the digital backbone across all areas of a connected…
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