The Volkswagen Group is set to acquire Swedish telematics specialist “WirelessCar” from Volvo. The Group will acquire a 75.1 percent stake in the company furthering its advances in fleet connectivity.
WirelessCar has been a wholly-owned subsidiary by Volvo since 2007. The Swedish company has a workforce of some 370 IT experts worldwide and is acknowledged as a leading specialist in vehicle connectivity.
WirelessCar has its own technology platform and also develops digital services, including concierge and billing services (e.g. tolls) as well as safety and emergency services (e.g. remote diagnostics, breakdown services). Worldwide, some 3.5 million vehicles from various car manufacturers are connected via this platform.
The Volkswagen Group is using WirelessCar’s connectivity technology to drive the development of the digital ecosystem, where the Volkswagen brand is spearheading development for the Group in cooperation with technology partners.
The goal is to provide full connectivity in future vehicle generations and develop value-added services for customers that they can access via the Volkswagen Automotive Cloud. More specifically, WirelessCar technology will enable safe and stable data exchange between the vehicle’s operating system and the cloud-based platform, and forming an essential basis for the future software architecture in the vehicle.
Volkswagen is also developing the cloud-based platform together with Microsoft, and designing a customizable marketing platform (service platform) for all digital services with diconium. WirelessCar joins Microsoft and diconium as the third major technology partner involved.
The Completion of acquisition is expected in the first half of 2019 and is subject to approval from antitrust authorities.
Source: Press Release