Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Sirius XM Closes Agero Unit Buy

Sirius XM (NASDAQ: SIRI  ) is now fully in possession of its latest asset purchase. The company has closed its acquisition of the connected vehicle services unit of privately held Agero, both companies announced in separate press releases. According to Sirius XM, the division "is the leading provider of innovative telematics services, offering safety, security, and convenience services for drivers and end-to-end, turnkey solutions for automakers." 

The satellite-radio purveyor said that with the unit in its fold, it will provide such services to more auto makers than any other telematics provider. The list of manufacturers includes Honda, BMW, and Toyota.

The acquisition was originally announced in August. Sirius XM agreed to pay $530 million in cash for the unit, which will be renamed Sirius XM Connected Vehicle Services.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2712691, ~/Articles/ArticleHandler.aspx, 5/26/2015 6:02:22 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Apple's next smart device (warning, it may shock you

Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early-in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!