Exclusive-Vista Equity seeks to tap banks for Solera IPO-sources

By Thomson Reuters Mar 13, 2024 | 4:45 PM

By Echo Wang

(Reuters) – Private equity firm Vista Equity Partners is seeking to hire investment banks for a U.S. initial public offering of Solera, a provider of software to the automotive and insurance industries, people familiar with the matter said on Wednesday.

Vista, which acquired Solera for $6.5 billion in 2016, is interviewing banks as it seeks to hire IPO underwriters, the sources said, requesting anonymity because the matter is confidential.

The listing could happen as soon as the end of 2024, depending on market conditions, the sources added.

Vista declined to comment and Solera did not immediately respond to a request for comment.

(Reporting by Echo Wang in New York; Editing by Greg Roumeliotis)