SPAC Tows Away OnStar Rival

Schachter, Ken
June 2008
Red Herring;6/16/2008, p2
Trade Publication
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.


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