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Solera acquires RedCap

Monday, March 26, 2018 - 07:00
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Solera Holdings, Inc., a global leader in intelligent data, software and solutions to manage and secure the automotive, light and heavy truck fleet, home and identity ecosystems, has supplemented its technology portfolio with the acquisition of RedCap Technologies, LLC, a mobility and logistics platform that enables seamless vehicle and customer movements in and around dealerships, focusing on improving sales and service experiences for consumers, while optimizing operational effectiveness for dealers.

From test drives delivered to the customer’s door, to pick-up and delivery of service vehicles, and on-demand ride sharing, RedCap is fundamentally changing the way dealerships manage customer logistics. The platform extends digitized customer experiences to automotive buying and servicing, while providing dealers with easy-to-integrate technology to scale out-of-store logistics, as well as increase service revenue and customer satisfaction scores while reducing loaner car cycle times.

“Customers want choice and frequently value time over money. That means they will choose the option with the least amount of friction, provided the pricing is transparent,” said David Zwick, RedCap’s co-founder and CEO. “Becoming part of the Solera family allows the RedCap team to leverage the global scale of Solera and quicken the adoption of seamless and frictionless experiences in the automotive sector and beyond.

RedCap’s technology, which includes a robust API, dealer management system integration, and a white-labeled product for dealers and OEMs, will be an integrated module of the Solera Digital Garage® platform, which enables secure and efficient interactions between all transaction participants.

“Customer experience, convenience and transparency in car and fleet management and ownership is paramount in securing loyalty,” said Tony Aquila, Inventor and Founder, Chairman and CEO of Solera. “RedCap enhances dealership customer convenience, providing one-touch secure access to efficient mobility and logistics solutions to drive increased customer satisfaction. We continue to invest and innovate to further the reach of our Digital Garage® platform, which addresses the critical 54 automotive and 250 fleet lifecycle transactions. We are proud to be an innovator in emerging technologies, including secure mobility industrial block chain technology, to protect our most important assets and enhance our quality of life.”

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