Connected Car
The deal with Virtuoso Acquisition, a dedicated acquisition company, values the combination at $1.1bn and releases $330m for expansion for connected car data services. It already collects 14.6bn data points in near-real-time every day from 10.7m connected vehicles, analysing 66 million journeys across a network of 50m vehicles. Wejo expects its connected vehicle network to expand significantly with nearly half of all vehicles globally expected to be connected vehicles by the end of this decade. By 2030, Wejo estimates the Connected Vehicle Data Market will be worth $500bn with over 600 million connected vehicles worldwide. We are excited to have found a partner in Virtuoso who understands the potential of our business as we take this step forward in an important and burgeoning market.”www.wejo.comRelated connected car articlesOther articles on eeNews Europe