The companies put the deal's value at about $6.5 billion, including debt.
Solera is being acquired by an affiliate Vista Equity Partners for about $3.74 billion in cash.
The company, which makes insurance claims software, said last month that it was exploring a sale.
Shareholders of Solera Holdings will receive $55.85 for each share they own. That's a 13 percent premium to the Westlake, Texas, company's Friday closing price of $49.45.