SiriusXM has announced the acquisition of Automatic Labs Inc., a San Francisco-based provider of connected vehicle services for consumers and enterprises.
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 and at automatic.com) provide vehicle diagnostic alerts, emergency crash assistance, fuel monitoring, access to parking information, live vehicle location tracking and more. Automatic also works with insurance carriers to enable usage-based savings and teen driver coaching and works with automotive dealers to provide tools to help manage their vehicle inventory and customer service relationships.
SiriusXM holds a unique position in the connected vehicle ecosystem, offering audio entertainment and data services in vehicles from every major carmaker. With the acquisition of Automatic, SiriusXM’s position is further strengthened with data collection and analytical tools that will enrich key elements of the connected vehicle experience, according to the company.
“The acquisition of Automatic is a natural fit for SiriusXM as we continue to expand and improve our connected vehicle services,” said Jim Meyer, CEO, SiriusXM. “Automatic’s innovative products have brought safety and intelligence data and analytics to the forefront of vehicle connectivity. We are excited to welcome the talented employees at Automatic to SiriusXM as we expand the possibilities of connected vehicle offerings and services for manufacturers, drivers and enterprises.”
“Automatic is thrilled to join forces with SiriusXM at such an exciting time for the connected car,” said Gary Clayton, Automatic’s CEO. “Automakers, enterprises and consumers are looking for the best products with world-class capabilities, and our teams will continue to bring innovation to the connected vehicle landscape under SiriusXM.”
Automatic will continue to be based in San Francisco, and the Automatic brand, its products and services, and arrangements will continue unchanged.
The transaction closed in the second quarter of 2017. Financial Technology Partners served as the exclusive financial adviser to Automatic.
