(Bloomberg) -- Vista Equity Partners-backed automotive data and software services provider Solera is set to seek a valuation of about $10 billion to $13 billion in its planned initial public offering, according to people familiar with the matter.

The company, which analyzes vehicle life-cycle data for clients including insurers and dealers, may file publicly for its US IPO as soon as this week, the people said. It could start marketing the deal to prospective investors as soon as mid-July, the people said, asking not to be identified as the information isn’t public.

Westlake, Texas-based Solera may seek as much as $1.5 billion in the offering, some of the people said. The company was weighing an IPO that could raise more than $1 billion, Bloomberg News reported in April. 

Solera has filed confidentially for the IPO, according to a statement. 

Details of the offering including timing may still change, the people said. A representative for Vista declined to comment. A Solera spokesperson didn’t immediately respond to requests for comment.

The filing comes as US IPO volume continues to rebound after several relatively quiet years. In the first six months of 2024, companies have raised about $20 billion through IPOs on US exchanges. That’s the best start to a year since 2021, data compiled by Bloomberg show.

Solera is a global software-as-a-service provider of integrated vehicle life-cycle and fleet management. It helps clients address vehicle claims, vehicle repairs, vehicle management and fleet management. Solera serves more than 300,000 customers.

In 2016, Vista and a group of investors that included a unit of Koch Industries Inc. took Solera private in a deal that valued the company at about $6.5 billion, a statement at the time showed.

The company is working on the offering with banks including Goldman Sachs Group Inc., Morgan Stanley, Bank of America Corp. and Jefferies Financial Group Inc., people familiar with the matter have said.

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