Sirius XM Acquires Agero’s Connected Vehicle Services Division

Sirius XM has acquired Agero’s connected vehicle services bureau in a $530 million cash deal. Image credit: Sirius XM

[Satellite TODAY 08-15-13] Sirius XM will pay $530 million in cash to acquire the connected vehicle services business of Agero, Inc. This business unit provides telematics services for drivers and end-to-end, turnkey solutions for automakers. Following the acquisition, SiriusXM will provide connected vehicle services to automotive manufacturers, including Acura, BMW, Honda, Hyundai, Infiniti, Lexus, Nissan and Toyota.

     SiriusXM already offers audio entertainment and data services to other major carmakers making its services available in more than 50 million vehicles. The acquisition of the connected vehicle business of Agero makes SiriusXM as an even more prominent provider for services in this growing industry.