GERMANY/ENGLAND: Leading Telematics Providers Across Atlantic Team Up; Mannesmann TeleCommerce with Passo Invests in ATX
Mannesmann TeleCommerce GmbH with its telematics division PASSO, a wholly owned subsidiary of Mannesmann AG, which was recently acquired by the British- based Vodafone AirTouch Plc., announced today it has purchased an approximate 20 percent equity stake of ATX Technologies, Inc. Both companies see this investment as a significant step in providing telematics and location-based services on both sides of the Atlantic, especially to automotive customers.
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