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

  • After two decades of research, ITS is getting into its stride
    June 4, 2015
    Colin Sowman gets the global view on how ITS has shaped the way we travel today and what will shape the way we travel tomorrow. Over the past two decades the scope and spread of intelligent transport systems has grown and diversified to encompass all modes of travel while at the same time integrating and consolidating. Two decades ago the idea of detecting cyclists or pedestrians may have been considered impossible and why would you want to do that anyway? Today cyclists can account for a significant propor
    Read More
  • Four expansions added to Virginia’s Smart Road to test AVs in urban, rural and residential environments
    November 27, 2017
    The Virginia Tech Transportation Institute and the Virginia Department of Transportation (VDoT) has unveiled four expansions to the Virginia Smart Road to accelerate advanced-vehicle testing and explore how automated and autonomous vehicles (AVs) will function on U.S. roadways including edge-and-corner environments. Two new facilities have opened for testing: The Surface Street Expansion, an urban test bed, and the Live Roadway Connector, which connects the Smart road to the U.S. Route 460-Business,
    Read More
  • Legalities of in-vehicle systems and cooperative infrastructures
    February 1, 2012
    Paul Laurenza of Dykema Gossett PLLC discusses the paths which lawmakers may go down on the route to making in-vehicle systems and cooperative infrastructures a reality. The question of whether or not to mandate in-vehicle systems for safety and other applications is a vexed one. There is a presumption on some parts that going down the road of forcing systems' fitment is somehow too domineering or restricting. Others would argue that it is the only realistic way of ensuring that systems achieve widespread d
    Read More
  • Speed enforcement orders for Sensys
    February 6, 2014
    Sensys Traffic has received orders worth US$13 million from the Swedish Transport Administration as part of its three-year contract with the authority. The orders are for equipment to be used in the Swedish automatic traffic control (ATC) system, indicating that the Swedish Transport Administration intends to expand the system. The orders include monitoring systems, roadside cabinets and spare parts for speed enforcement. Almost two-thirds of the order is for replacement of existing ATC systems, while
    Read More

Highlighted Content