SiriusXM announced the acquisition of Automatic Labs Inc. (Automatic) for over US$100 million dollars.
Automatic’s data-driven platform enables vehicle owners to be safer and drive smarter. The company’s proprietary Automatic Pro and Automatic Lite connected car adapters (available at retailers) provide vehicle diagnostic alerts, emergency crash assistance, fuel monitoring, access to parking information, live vehicle location tracking and much more. Automatic also works with insurance carriers to enable usage-based savings and teen driver coaching and works with automotive dealers to provide tools that help manage their vehicle inventory and customer service relationships.
Automatic Labs sound very much like Connexion Media in many ways and they were just acquired for over US$100 million dollars.
Yet Connexion Media has a market cap of a mere AU$7.658 million. Undervalued much!!!
SiriusXM, page-2
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