Quindell buys out RAC in telematics JV

Rob Terry

Quindell is to acquire all of RAC's shares in the companies' telematics joint venture after the businesses concluded it was not a good use of capital to finance a free roll-out to customers.

In an ownership restructure announced today, Quindell will own 100% of the joint venture, called Connected Car Solutions. The restructure has a net cost to Quindell of £3.5m.

The two businesses

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