Solera, which owns AudaExplore and Audatex and recently announced exclusivity deals with Tesla and Suncorp, announced Thursday it “is exploring a variety of strategic alternatives.”

Translated into Main Street-speak, it means the publicly traded company is looking for a buyer, according to Bloomberg and Reuters reports.

Solera has estimated its market capitalization at about $3.255 billion.

A Solera board committee which will do the exploration has hired Centerview Partners as a financial adviser, and the company itself has contracted with Rothschild as a financial adviser, Solera said Thursday. The board committee will use Sullivan & Cromwell as a legal advisor.

Solera says it doesn’t plan to say anything else publicly during the process, and noted in a news release: “There can be no assurance that the exploration of strategic alternatives will result in a transaction.”

“I want to be clear that Solera’s primary focus continues to be our customers around the world,” CEO Tony Aquila said in a statement. “We are excited about continuing to deliver our world class solutions and services to our customers and developing new solutions that enable our customers to serve their customers in the digital age.”

Bloomberg cited unnamed sources Wednesday as saying Solera has approached Pamplona Capital Management and Thoma Bravo; a Thoma Bravo spokeswoman wouldn’t comment, and Solera and Pamplona didn’t reply to Bloomberg emails.

Reuters on Wednesday cited an unnamed source which said at least one private equity firm has arranged financing for a sale.

It’s interesting to note that Solera is becoming less and less dependent on collision claims for revenue, according to a Seeking Alpha transcript of the company’s May third-quarter conference call.

During the call, Aquila estimated Solera’s income from claims services has shifted from 95 percent of revenue “a handful of years ago” to about 55 percent, according to the transcript.

“We want you guys to start talking about Solera not as a claims software company but as a risk and asset management platform, which I think would make our investors and us feel a lot better,” Aquila tells investors in the transcript.

More information:

“Solera Exploring Strategic Alternatives”

Solera, Aug. 20, 2015

“Solera Holdings Said to Approach Buyout Firms Over Possible Sale”

Bloomberg Business, Aug 19, 2015