SiriusXM Agrees To Pay $530M For Auto Information Service Agero

Discussion in 'The Howard Stern Show' started by Nemo, Aug 15, 2013.

  1. Nemo

    Nemo Beer Can Thick Gold

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    http://www.deadline.com/2013/08/siriusxm-buys-agero/


    NEW YORK, Aug. 15, 2013 — Sirius XM Radio (NASDAQ: SIRI) today announced that it has entered into a definitive agreement to acquire the connected vehicle services business of Agero, Inc. for $530 million in cash.

    The connected vehicle unit of Agero is the leading provider of innovative telematics services, offering safety, security and convenience services for drivers and end-to-end, turnkey solutions for automakers. Following the acquisition, SiriusXM will provide connected vehicle services to more automotive manufacturers — including Acura, BMW, Honda, Hyundai, Infiniti, Lexus, Nissan and Toyota — than any other telematics provider.

    SiriusXM holds a unique footprint in vehicles from every major carmaker, offering unparalleled audio entertainment and data services available in more than 50 million vehicles. Telematics and connected vehicle solutions are key elements in the future of the auto industry. The acquisition of the connected vehicle business of Agero establishes SiriusXM as the leading provider for services in this growing industry.

    “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, SiriusXM is uniquely positioned to offer world-class end-to-end telematics services,†said Jim Meyer, Chief Executive Officer, SiriusXM. “The transaction accelerates SiriusXM’s development in architecture supporting connected vehicle services, as well as the ability to provide services over both satellite and cellular networks. Agero’s connected vehicle team is known for their experience, innovation and technology, and we look forward to welcoming them to SiriusXM as we work to capture the significant growth opportunities in connected vehicle services.â€

    The transaction is subject to the expiration or early termination of the Hart-Scott-Rodino antitrust waiting period and other customary closing conditions.

    The transaction is expected to close in the fourth quarter of 2013.

    Morgan Stanley acted as financial advisor to SiriusXM in connection with this transaction.
     
  2. R.P. McMurphy

    R.P. McMurphy Well-Known Member

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    ...so that's what theyre doing with the money they owe howard.
     
  3. Nemo

    Nemo Beer Can Thick Gold

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    Ashley Madison commercials coming soon?
    :facepalm:
    [​IMG]
    "Any more live reads Fred or can this guy make a right at Elm Street?"
    :lol:
     
  4. BethSucks

    BethSucks Well-Known Member Staff Member

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    Beat me to it.
     
  5. itpdude

    itpdude New Member

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    I-I-Ideeeeeenty G-g-guaaard!
     
  6. R.P. McMurphy

    R.P. McMurphy Well-Known Member

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    ...:lol:
    ...I was suppose to be a partner robin. maybe I should call my lawyer!
     
  7. Bye You!

    Bye You! The n word guy Gold

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    i didn't understand a word of the OP. everything is BULLSHIT buzzwords these days that don't mean a goddamn thing!

    what does tho company DO? what is it into? :c
     
  8. boomer1976

    boomer1976 Well-Known Member VIP

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    [​IMG]
     
  9. Bye You!

    Bye You! The n word guy Gold

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    :beer:
     
  10. Nemo

    Nemo Beer Can Thick Gold

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    [video=youtube;XEL65gywwHQ]http://www.youtube.com/watch?v=XEL65gywwHQ[/video]
     
  11. knu3421

    knu3421 Well-Known Member

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    This is kinda off the topic but what kind of car did ronnie buy? He metioned this on monday i think
     
  12. Beth Eats Hay

    Beth Eats Hay Well-Known Member

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    Agero please.......
     
  13. Xhorder

    Xhorder \m/ VIP

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    Isn't it kinda like an on-star deal?
    :dontknow:
     
  14. wigtropolis

    wigtropolis Well-Known Member

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    "I could have done that job Robin, I have a staff and 3 stations. We could have saved them a lot of money."
     
  15. Rocinante

    Rocinante Well-Endowed Member Gold

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    I believe he is paid with stock options only. That may have changed.
     
  16. ShutupMoron

    ShutupMoron Unknown Member VIP

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  17. Gumshoe

    Gumshoe New Member Banned User

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    Basically it's like a Big Brother back seat driver service. Why would anyone want this in their car? It's there to monitor, track, and record everything about your driving habits and report it to the authorities when you do something "wrong". If in the future many vehicles have this installed, it'd be a way to restrict movement and find people who don't follow the curfew or stay in their zone in a SHTF scenario.

    In the near future it's a way to punish and fine you for speeding, or increase insurance rates based on your driving.
    That's how I see it anyway. Welcome to the new age!
     
  18. Wigward Hairhat

    Wigward Hairhat Active Member

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    I was in the same boat (or eh car) as you. I'd never heard the term "connected vehicle services" before and went to the Agero site to see what they actually do.



    I'm sorry I did now. My head actually hurts after reading that.
     
    Last edited: Aug 15, 2013
  19. morrissey

    morrissey Well-Known Member

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    There goes Sam Roberts' raise....
     
  20. Bye You!

    Bye You! The n word guy Gold

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    i did the same thing, and it is all BS marketing buzzwords.

    Tim Sabean probably works there on some projects and initiatives.