Sirius XM Will Buy Vehicle Services Division from Agero and 2 Other Hot Stocks
Sirius XM Radio Inc. (NASDAQ:SIRI): Current price $3.71
On Thursday, Sirius XM Radio said that it will pay $530 million in cash for the vehicle services division of Agero. The unit provides services like roadside assistance and alarm notification. The acquisition, which should close in the fourth quarter, forms part of larger drive by Sirius to built out beyond music to areas such as automotive safety, vehicle tracking, and roadside assistance. Agero serves more than 75 million auto owners through partnerships with auto makers, insurance carriers, and others.