Sirius XM Pays $530M For Agero's Connected Vehicle Unit

Law360, Los Angeles (August 15, 2013, 7:58 PM EDT) -- Sirius XM Radio Inc. has struck a deal to acquire the connected vehicle services division of Agero Inc. — a leading provider of telematics services — for $530 million in cash, the companies announced Thursday.

The satellite radio operator said the agreement will allow it to provide connected vehicle services, including security and convenience technology, to more carmakers than any other telematics provider. Sirius XM already offers audio programming and data services in more than 50 million vehicles, according to the company.

Sirius XM plans to...
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