Sirius XM Radio disclosed last Thursday on the company's acquisition of Agero Inc for USD 530 million in cash.
Agero, provides expert services that offers protection, safety and comfort for drivers.
Sirius XM Radio's recent acquisition puts the company on top of its growing industry. With the new investment, Sirius opened up opportunities for the company to offer services to different car manufacturers such as BMW, Honda, Infiniti and Lexus to name a few.
"The acquisition of Agero's connected vehicle business is a natural fit for Sirius XM. As the world's leading provider of in-vehicle subscription services, Sirius XM is uniquely positioned to offer world-class end-to-end telematics services," Sirius Chief Jim Meyer said.
Agero' s Dave Ferrick, Chief Executive Officer, confirmed Sirius's Mayer's vision and believed that the acquisition will progress and further develop the services that both groups can offer to the automotive public.
Sirius XM Radio is a leading radio broadcaster with 25 million existing followers. Agero, on the other hand is the leading service provider for vehicle and driver safety.
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