Friday, September 12, 2014

Porsche Buys $55M Stake In Inrix

Kirkland-based traffic information provider Inrix has sold a ten percent stake in the company to Porsche Automobil Holdings SE, the company which manages the Porsche family's investment holdings, in a deal worth $54M. Porsche--which also owns a majority of Volkswagen AG--cited the importance of connectivity between cars and infrastructure in its statement announcing the deal.