• Nieuwsbrief

20 12 2018 03

BERLIN/STOCKHOLM (Reuters) - Volkswagen (VW) (VOWG_p.DE) is buying a controlling stake in Volvo’s (VOLVb.ST) WirelessCar, a digital service developer specializing in connected driving, for 1.1 billion Swedish crowns ($122 million), the companies said on Wednesday.

VW said WirelessCar technology would further its goal of developing value-added services for customers by enabling safe and stable data exchange between operating systems in its cars and a cloud platform it is developing with Microsoft (MSFT.O).

The German carmaker will buy 75.1 percent of WirelessCar in the deal, which will allow Volvo to focus on commercial vehicles, its core business since it sold Volvo Cars in 1999.

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