Quindell Buys RAC Stake In Black Box Venture

Quindell Buys RAC Stake In Black Box Venture
 

A London-listed insurance claims processor with ambitions to reshape the motor cover market will announce on Tuesday that it is acquiring the RAC's stake in their fledgling joint venture.
Sky News understands that Quindell, whose shares have slumped this year amid speculation about its prospects, will inform the stock market that it is to take full control of Connected Car Solutions (CCS).
The new business was intended to be a platform to instal more than two million black boxes in cars, putting CCS in the vanguard of the embryonic telematics sector.
Quindell and the RAC committed an... read more

 
2 September 2014 in Business, Views: 36
Source: Orange News
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