TITLE

SPAC Tows Away OnStar Rival

AUTHOR(S)
Schachter, Ken
PUB. DATE
June 2008
SOURCE
Red Herring;6/16/2008, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the merger of blank-check company Polaris Acquisition Corp. with OnStar rival Hughes Telematics and explores how it will affect the future of in-vehicle data, entertainment and diagnostic services. Apollo Global Management will maintain its roughly 54 percent stake in the combined company under the deal. After the merger, the value of Hughes Telematics will be $699 million. Hughes Telematics has agreements to provide telematics for cars and sport-utility vehicles (SUV) of Chrysler and Mercedes-Benz.
ACCESSION #
36826841

 

Related Articles

  • A New Take On SPACs.  // Investment Dealers' Digest;6/23/2008, Vol. 74 Issue 25, p17 

    The article reports that public acquisition company Polaris Acquisition Corp. accorded to acquire automotive device supplier Hughes Telematics Inc. Polaris has agreed to acquire Hughes, a portfolio company of equity firm Apollo Global Management, for $700 million in a stock-swap transaction. It...

  • Merger gives Hughes Telematics a cash boost. Allen, Leslie J. // Automotive News;6/23/2008, Vol. 82 Issue 6313, p26 

    The article reports that Hughes Telematics Inc. says that it will merge with Polaris Acquisition Corp. in a deal that will give Hughes $140 million in capital. According to Jeff Leddy, chief executive officer (CEO) of Hughes, the merger will give Hughes a stronger balance sheet. He added that...

  • News Headlines.  // MarketWatch: Technology;Aug2008, Vol. 7 Issue 8, p22 

    The article offers news briefs related to high technology industries. Information technology (IT) provider Wipro Corp. is planning to enter the semiconductor market with products for televisions and set-top boxes. Polaris Ltd. plans to acquire Hughes Telematics Inc. for approximately $700...

  • Verizon's Hughes Acquisition Could Advance Remote Health Monitoring. Horowitz, Brian T. // eWeek;6/ 4/2012, p4 

    The article reports on the acquisition of U.S.-based telecommunications company Verizon Communications Inc. with connected-service company Hughes Telematics Inc.

  • Verizon to acquire Hughes Telematics.  // Fleet Owner Blog;6/5/2012, p1 

    The article reports that Hughes Telematics will be acquired by Verizon Communications for 612 million U.S. dollars, which is still subject to an antitrust waiting period and other closing conditions. Verizon Enterprise Solutions President John Stratton said that they are expecting great demand...

  • Private equity giant buys Idol9 co-owner. Lowry, Tom // Daily Variety;5/11/2011, Vol. 311 Issue 27, p4 

    The article reports that CKX Inc., co-owner of the television program "American Idol," has found Apollo Global Management LLC to be its buyer through a deal amounting to 509 million dollars.

  • Pactiv enters acquisition radar.  // Flexible Packaging;Jun2010, Vol. 12 Issue 5, p18 

    The article reports on the acquisition talks between Lake Forest, Illinois-based Pactiv Corp. and private equity firm Apollo Global Management LLC.

  • Apollo reportedly considering D&B bid.  // Nation's Restaurant News;3/24/2014, Vol. 48 Issue 6, p7 

    The article presents a report by "Bloomberg" news agency as of March 2014, claiming that investment firm Apollo Global Management LLC is evaluating a possible acquisition of Dave & Busters Inc.

  • Apollo Management to Acquire Taminco from CVC. Young, Ian // Chemical Week;1/2/2012, Vol. 174 Issue 1, p11 

    The article reports on the decision of private equity company Apollo Global Management to acquire Ghent, Belgium-based alkylamines and derivatives producer Taminco from CVC Capital Partners in December 2011.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics