The Firm is representing Sirius XM Radio Inc. (“SiriusXM”) in connection with its $530 million acquisition of the connected vehicle services unit of Agero, Inc. (“Agero”). The connected vehicle unit of Agero is the leading provider of innovative telematics services, offering safety, security and convenience services for drivers and end-to-end, turnkey solutions for automakers. The transaction, which is subject to customary closing conditions, including regulatory approvals, is expected to close in the fourth quarter of 2013.
SiriusXM is the world's largest radio broadcaster measured by revenue and has more than 25 million subscribers. SiriusXM creates and broadcasts commercial-free music, premier sports talk and live events, comedy, news, exclusive talk and entertainment, and the most comprehensive Latin music, sports and talk programming in radio.
The Simpson Thacher team for the transaction includes: Matthew Rogers, Chelsea Freeman, Matt Gabbard and Kai Fan (M&A); Gary Sellers and Lia Toback (Capital Markets); Aimee Adler, Jennifer Pepin and Sophia Karas (Executive Compensation and Employee Benefits); Marcy Geller and Drew Purcell (Tax); Elisa Alcabes (Insurance); Michael Naughton and Paul Sirkis (Antitrust); and Adeeb Fadil (Environmental). Summer associates Alexander Lebow and Christine Marshall also provided valuable assistance.