Tue, Mar. 1, 5:45 PM| Tue, Mar. 1, 5:45 PM | 7 Comments
Sep. 29, 2015, 9:41 AM
- IHS (IHS +3.5%) used its FQ3 earnings call to state it's not pursuing an acquisition of Solera (SLH -2.2%). Bloomberg and Reuters previously reported IHS was interested in a bid that would trump Vista Equity's $55.85/share offer.
- While Solera slips, IHS is higher following the disclosure, an FQ3 beat, and solid FY15 (ends in November) guidance. The business information software/services provider expects FY15 revenue to be at the midpoint of a $2.3B-$2.34B guidance range, and EPS to be toward the high end of a $5.80-$6.00 range. Consensus is at $2.32B and $5.92.
Sep. 21, 2015, 6:11 PM
- Bloomberg reports information software/services provider IHS is mulling a bid for auto insurance software vendor Solera (NYSE:SLH) that would top the $6.5B ($55.85/share) deal Solera agreed to with P-E firm Vista Equity.
- Solera has risen to $56.15 after hours. Reuters previously reported (before the Vista deal was announced) an IHS/Solera deal was possible.
- With IHS currently sporting an $8B market cap and having just $226M in cash as of May 31 (to go with $2.1B in debt), any offer for Solera would likely have a stock component.
Sep. 21, 2015, 5:40 PM
Sep. 14, 2015, 9:14 AM
Sep. 11, 2015, 8:26 PM
- Talks to buy out insurance industry software maker Solera Holdings (NYSE:SLH) are stalling out over price, Reuters reports.
- Buyout firms Thoma Bravo and Vista Equity Partners have made offers that Solera finds wanting, according to sources. Final offers were reported earlier this week around $53/share, which would value the company around $3.6B.
- Thoma Bravo is working to boost its bid by taking on more debt, the sources said.
- Solera's now pursuing selling itself to another company instead, reportedly including IHS, which provides information and analytics to a number of industries.
- Solera Holdings finished the day up 3.9%, to $49.45. A $53 purchase price represents a 7% premium from there.
- Previously: Bloomberg: Solera close to ~$53/share deal to sell company (Sep. 09 2015)
Sep. 9, 2015, 3:58 PM
- P-E firms Thoma Bravo and Vista Equity are reportedly among the final bidders for Solera (SLH -2.1%) as it nears a sale. Sources add "a strategic company" may have also bid, and that a buyer could be decided as soon as next week.
- Bloomberg originally reported on Aug. 19 the auto insurance software firm was considering a sale. A $53/share deal would imply a $3.6B valuation. Shares are currently trading at $48.40; the 52-week high is $60.72.
Aug. 26, 2015, 9:14 AM
Aug. 25, 2015, 5:40 PM
Aug. 24, 2015, 4:29 PM
- The Nasdaq opened down 7.5%, furiously rallied almost to breakeven, and then sold off again in the afternoon to close down 3.8%. Some tech stocks managed to rise nonetheless, while many others posted 5%+ declines.
- Major decliners included Citrix (CTXS -9.3%), Solera (SLH -8.9%), NCR (NCR -7.8%), Nuance (NUAN -6.9%), Infinera (INFN -6.4%), HomeAway (AWAY -6.6%), MagnaChip (MX -6.4%), Yandex (YNDX -7.5%), Neustar (NSR -6%), Ebix (EBIX -7.3%), SGI (SGI -8%), Monster (MWW -7.5%), Silver Spring (SSNI -6.6%), Perion (PERI -11%), and Synchronoss (SNCR -7.5%).
- Solera's decline comes 4 days after the company confirmed it's exploring strategic alternatives, and 5 days after Bloomberg reported a sale is being explored. Yandex has been hit hard in recent weeks by the ruble and crude oil's decline. Infinera is down 20% over the last 3 trading days, albeit still up 34% YTD.
- See also: Morning decliners, Chinese tech stocks, large-cap decliners
May 1, 2015, 10:58 AM
- Solera (SLH +2.3%) is rallying after independent research firm Off Wall Street pulled its Strong Sell rating for the company. OWS has also pulled its Strong Sell rating for remote access/collaboration software vendor LogMeIn (LOGM +0.4%), but its shares are only up fractionally.
- The call comes ahead of the auto claims-processing software vendor's May 6 FQ3 report. Shares closed yesterday less than $3 above a 52-week low of $45.69.
Jul. 1, 2013, 9:22 AMA roundup of tech analyst ratings changes: 1) BlackBerry (BBRY) has been downgraded to Equalweight by Morgan Stanley. 2) Broadcom (BRCM) has been downgraded to Neutral by Lazard. 3) Marvell (MRVL) has been upgraded to Buy by Lazard. 4) F5 (FFIV) has been upgraded to Buy by Needham. 5) Avid (AVID) has been downgraded to Neutral by JPMorgan. 6) Solera (SLH) has been upgraded to Outperform by William Blair. BBRY -4.1%, adding to Friday's 27% drop. BRCM -0.6%. MRVL +1.4%. FFIV +2%. | Jul. 1, 2013, 9:22 AM | 2 Comments
Aug. 23, 2012, 5:08 PMSolera Holdings (SLH): Q2 EPS of $0.30 misses by $0.30. Revenue of $198M (+8.8% Y/Y) beats by $3M. Shares -3.9% AH. (PR) | Aug. 23, 2012, 5:08 PM | 1 Comment
Feb. 8, 2012, 11:02 AMSolera (SLH -5.1%) sells off after missing FQ2 EPS forecasts. The company's guidance for FY12 revenue of $780M-$786M and EPS of $2.67-$2.71, below a consensus of $793M and $2.76, also isn't helping. The auto insurance software firm blames the disappointing guidance on a declining euro, but that's apparently not enough of an excuse for the Street. (transcript) | Feb. 8, 2012, 11:02 AM
Aug. 25, 2011, 10:28 AM
Automotive insurance software firm Solera Holdings (SLH -11%) dives after reporting FQ4 revenue of $182.1M (+18% Y/Y) and EPS of $0.62, beating consensus by $6.6M and $0.02. FY12 guidance for revenue of $822M-$832M and EPS of $2.85-$2.90 is slightly above consensus, but it looks like the market was expecting more. (transcript)| Aug. 25, 2011, 10:28 AM