Telematics and connected vehicle solutions are key elements in the future of the auto industry. Sirius XM Radio plans to spend $530 million on an acquisition that will expand its ability to provide those services
Sirius XM Radio, which is now available on millions of vehicles, entered into a definitive agreement to acquire the connected vehicle services business of Agero Inc.
“The acquisition of Agero’s connected vehicle business is a natural fit for Sirius XM. As the world’s leading provider of in-vehicle subscription services, SiriusXM is uniquely positioned to offer world-class end-to-end telematics services,” said Jim Meyer, chief executive officer, SiriusXM. (more…)