Moody’s Investors Service says Polaris Newco‘s (dba Solera) financial ratings are unchanged following a recently announced acquisition of Spireon for an estimated $737.5 million. Last week, Location Business News reported that the financial details of the transition were not disclosed.
“Proceeds from [an] incremental term loan, together with about $338 million of equity and $100 million of revolver draw will be used to fund the acquisition of Spireon Holdings, Inc. in a transaction totaling $737.5 million,” according to Moody’s.
Moody’s says the proposed acquisition “will enhance Polaris’ existing service offering into the field of GPS based tracking solutions to commercial fleet operators, franchise dealerships and independent dealers.”
Moody’s says company’s “proprietary databases create barriers to entry, especially in less penetrated markets outside of the U.S. where Polaris is a leading provider.”
 financial ratings are unchanged following a recently announced acquisition of Spireon for an estimated $737.5 million. Last week, Location Business News reported that the financial details of the transition were not disclosed.){kind=link}