SiriusXM Agrees To Pay $530M For Auto Information Service Agero

NEW YORK, Aug. 15, 2013 — Sirius XM Radio (NASDAQ: SIRI) today announced that it has entered into a definitive agreement to acquire the connected vehicle services business of Agero, Inc. for $530 million in cash.

The connected vehicle unit of Agero is the leading provider of innovative telematics services, offering safety, security and convenience services for drivers and end-to-end, turnkey solutions for automakers. Following the acquisition, SiriusXM will provide connected vehicle services to more automotive manufacturers — including Acura, BMW, Honda, Hyundai, Infiniti, Lexus, Nissan and Toyota — than any other telematics provider. (more…)

This article was printed from https://deadline.com/2013/08/siriusxm-buys-agero-564607/