A group of lenders to Solera is organizing with White & Case under a cooperation agreement amid AI fears in enterprise software, said two sources familiar with the matter.

The Vista Equity Partners-backed provider of technology services and data to auto insurers, dealerships, OEMs, fleet operators and parts distributors has been under pressure due to stagnant growth.

In its current fiscal quarter ending 31 March, Solera lost two key contracts in its vehicle claims and vehicle solutions units, according to a recent report by S&P Global Ratings. Moody’s has said that the company’s software is deeply integrated with customers, but warned limited growth will lead to sustained leverage.