Volvo Buys Tech Assets from Luxe Valet Service

Volvo Car Corp. is buying software and the operating platform of Luxe Valet Inc. to help develop algorithms for its expanding digital services.

Volvo also will hire key Luxe staffers and add them to its own digital services unit in Silicon Valley. Financial details were not disclosed.

San Francisco-based Luxe provides concierge-style valet service that will take your car in for service, a car wash or fill-up—or simply find a secure parking spot in the city. Volvo says it aims to bring similar capabilities to its customers.