Agero to sell connected vehicle services division

Agero has entered into a definitive agreement under which SiriusXM Radio will acquire Agero's connected vehicle services division in a deal worth US$530 million. Agero’s connected vehicle unit provides telematics services such as roadside assistance, consumer affairs and claims management services, for driver and automobile makers. The deal is slated to close in the fourth quarter 2013 and will enable the company to continue to accelerate the development and delivery of new services to enhance its leadershi
August 19, 2013 Read time: 2 mins
7291 Agero has entered into a definitive agreement under which SiriusXM Radio will acquire Agero's connected vehicle services division in a deal worth US$530 million.

Agero’s connected vehicle unit provides telematics services such as roadside assistance, consumer affairs and claims management services, for driver and automobile makers. The deal is slated to close in the fourth quarter 2013 and will enable the company to continue to accelerate the development and delivery of new services to enhance its leadership position in roadside assistance, consumer affairs, claims management and related new services.

The acquisition comes just a month after Agero signed a deal with M-Way Solutions of Germany, a provider of mobile enterprise software and services. The goal, officials said at that time, is to expand Agero’s cloud-based mobile applications to enhance driver safety, access to information and enhance the overall driving experience on all mobile devices including iOS, 1812 Android, 4275 Blackberry smart phones and tablets.

"As the automotive telematics industry has evolved, connected vehicle services have become increasingly focused on integration and infotainment, and we believe that SiriusXM is perfectly positioned to take these capabilities forward in this changing market," said Dave Ferrick, CEO of Agero.

Post the acquisition, SiriusXM said it will provide its connected vehicle services to a slew of additional auto manufacturers including Acura, 1731 BMW, 1683 Honda, 1684 Hyundai, 4777 Infiniti, 4349 Lexus, 838 Nissan and 1686 Toyota.

“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, CEO, SiriusXM.
Location Based Systems

For more information on companies in this article

Related Content

  • Toyota launches congestion management pilot in Thailand
    April 27, 2015
    Toyota Mobility Foundation (TMF) and Toyota Motor Thailand (TMT) will partner with Chulalongkorn University (Chula) on a pilot traffic and congestion management project on the heavily-congested Sathorn Road, Bangkok, Thailand. The project, which will take an estimated eighteen months to complete, from April 2015 –to December 2016, and a US$3.4 million investment, will create a road map to manage traffic control and flow by focusing on four areas. These include the developing sustainable shuttle bus and p
    Read More
  • Transport MEPs set out steps to achieve transport roadmap goals
    July 15, 2015
    To ensure the competitiveness and sustainability of EU transport, concrete measures are still needed, said MEPs in a report adopted in the Transport and Tourism Committee (TRAN) this week and intended to feed into the Commission review of the 2011 White Paper on Transport. Further efforts to boost air, road, rail and maritime transport, reduce road injuries and close loopholes in passenger rights legislation should be made, they add. The transport sector is a driving force of the EU economy and should
    Read More
  • Telematics standards need to evolve to keep up with technology
    July 30, 2012
    Scott Andrews and Scott McCormick take a look at how standards development for the telematics environment needs itself to evolve in order to stay abreast of technological advances. While the road has been somewhat arduous, telematics has evolved from a research activity to a resource for fleet operators, consumers and road management authorities.
    Read More
  • Hyundai adds fuel-cell SUVs to Canadian car-sharing service
    March 22, 2019
    Hyundai Auto Canada has launched Nexo, a fuel cell-powered SUV which it will make available to members of the public via Modo’s car-sharing service. The partners are seeking to make the fuel cell vehicles available to a wider audience and allow Canadians to learn more about the technology. Hyundai says Nexo runs on hydrogen, allowing it to emit clean water vapour and purify the air as it isbeing driven. Drivers who refill the engine for five minutes will be provided with a range of up to 570km,
    Read More

Highlighted Content