Added on March 31, 2017  The News Wheel   , , , , ,
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Audi Makes Acquisition To Grow Digital Offerings

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In the automotive, technology is becoming just as important as the engine under the hood. To keep itself competitive in an increasingly-connected world, Audi announced this month that it would acquire Silvercar Inc. by the end of the first half of this year. Silvercar Inc. is a company that focuses on technology to fulfill the needs of a mobile American public.

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Before the purchase, Audi of America had already made a $28 million investment in the firm, which employs about 150 people. The two companies have been working together since 2012 to assist Audi in providing innovative connected car services. Some of the joint projects these companies collaborated on include the Audi shared fleet and Audi on demand.

“The intersection of transportation and technology, influenced by changing demographics and innovative consumer models has created an exciting new world of mobility,” said Luke Schneider, CEO of Silvercar. “We are thrilled to become part of Audi, to enhance its leadership in this space.”

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Currently, Silvercar is located in Austin, Texas, but there is no word if the company will be relocating. The transaction still has to be approved by the government, but neither company foresees issues in the acquisition. It makes sense for Audi to purchase its connected car technology provider, because now Audi does not have to worry about if any of their competitors will be working with Silvercar, and proprietary information can pass between them much easier. We hope that this purchase means that we can look forward to even more innovative technology from the luxury car brand in the near future.