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Sirius XM to Buy Telematics Provider Agero
Sirius XM Radio Inc. has agreed to acquire the connected-vehicle services business of Medford, Mass.-based Agero Inc. for $530 million.
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Sirius XM Radio Inc. has agreed to acquire the connected-vehicle services business of Medford, Mass.-based Agero Inc. for $530 million.
Sirius says deal will help the company, which provides radio programming via satellite to more than 50 million vehicles, to expand into a broad array of telematics services, such as real-time navigation and stolen car tracking.
Agero provides wireless safety, security and convenience services to more than 75 million owners of Acura, BMW, Honda, Hyundai, Infiniti, Lexus, Nissan and Toyota vehicles.
Sirius expects to complete the deal in the fourth quarter.
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