Volkswagen acquires 75.1% of WirelessCar from Volvo
The Volkswagen Group is acquiring a majority stake in the Swedish telematics specialist “WirelessCar” from Volvo with a view to making further advances in fleet connectivity.
The completion of the transaction is expected in the first half of 2019 and it is subject to the approval of the antitrust authorities. WirelessCar registered in Gothenburg was founded in 1999 and it has been a wholly-owned subsidiary by Volvo since 2007.
The Swedish company has a workforce of some 370 IT experts worldwide and it is acknowledged as a leading specialist in vehicle connectivity through its own technology platform.
The company also develops digital services, including concierge and billing services as well as safety and emergency services such as remote diagnostics and emergency services.
Worldwide, some 3,5 million vehicles from various car manufacturers are connected via this platform.