Friday, April 28, 2017

Automatic Labs Acquired By SiriuxXM

San Francisco-based Automatic Labs, the maker of a device which plugs into any modern car and provides monitoring of a car's mileage, performance, and more, has been acquired by SiriusXM. Financial details of the buy were not announced. Automatic's devices plugged into the ODB-II port--now standard on modern cars--and helped provide feedback to drivers on their vehicle's performance, help in a crash, monitoring of fuel, providing live vehicle location tracking, and more. Automatic was led by Gary Clayton. Automatic said it was advised by Financial Technology Partners (FT Partners) in the deal.