Volkswagen to Take Over Diconium to Strengthen Digital Sales Solutions

Date : 01/10/2020 @ 10:09AM
Source : Dow Jones News
Stock : Volkswagen AG (VOW)
Quote : 171.75  1.1 (0.64%) @ 4:35PM
Volkswagen share price Chart

Volkswagen to Take Over Diconium to Strengthen Digital Sales Solutions

Volkswagen (XE:VOW)
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2 Months : From Dec 2019 to Feb 2020

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   By Cristina Roca 
 

Volkswagen AG (VOW.XE) said Friday that it has agreed to buy the shares in Diconium that it didn't already own in order to gain expertise in software development and strengthen its digital sales solutions.

The German car maker already owns a 49% stake in the company, and will now buy the remaining 51% of shares, it said. Diconium will help shape the group's online sales platform, where customers of all Volkswagen brands will be able to buy and manage functions for their vehicles such as media streaming, automatic payment for refueling, battery charging and others.

Volkswagen didn't disclose financial details.

 

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

 

(END) Dow Jones Newswires

January 10, 2020 04:54 ET (09:54 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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