Automatic, a SiriusXM Company, Acquires PayTollo to Expand and Enhance Connected Vehicle Solutions

Oct 11, 2018

PayTollo, a mobile payment platform for toll roads and bridges, gives Toll Authorities and drivers a streamlined payment option

Automatic deepens its connected vehicle service offerings for consumers

SAN FRANCISCO – October 11, 2018 – Automatic, a SiriusXM company that brings the power of connectivity to most cars on the road, today announced the acquisition of PayTollo, a mobile payment platform for toll roads and bridges that gives both drivers and Toll Authorities a streamlined payment option.

PayTollo’s GPS Toll Recognition Technology algorithm and user interface delivers the ability to notify, verify and charge a user for toll crossings.  PayTollo is currently an accepted payment option for tolls in Florida and California.  PayTollo simplifies the tolling experience, from paying tolls across different toll roads and bridges to account management and billing, all through the use of the PayTollo mobile app.  For Toll Authorities transitioning to All-Electronic Tolling, PayTollo can reduce costs, time needed to collect funds, DMV look-ups, billed invoices, and enables real-time verification. 

“The acquisition of PayTollo is exciting for Automatic as we continue to expand our consumer convenience and safety offerings,” said Joe Verbrugge, EVP & GM, Emerging Business for SiriusXM. “PayTollo provides a convenient service for drivers and authorities alike.  We believe it will fit nicely within the Automatic platform as we add new features and services for our customers.”

“PayTollo is thrilled to be under the Automatic umbrella,” said Abenezer Yohalashet, the former CEO of PayTollo and Director, Head of Tolling for Automatic.  “The synergy between connected vehicle services and toll payment are considerable and together, SiriusXM, Automatic and PayTollo will accelerate the growth of our platform and enable us to more quickly offer tolling solutions to drivers across the country.”

PayTollo complements Automatic’s consumer convenience and safety services. With Automatic’s install-it-yourself adapter and consumer friendly mobile application, most vehicles model year 1996 or later can be transformed into connected vehicles, giving drivers access to important services like Crash Alert, roadside assistance, real-time vehicle location monitoring and sharing, vehicle health and performance monitoring, recall notifications and service reminders, and now tolling. For more information on Automatic, visit www.automatic.com.

All Automatic subscriptions, including trial subscriptions, are governed by the terms of the Automatic Customer Agreement. Consumers can access the Automatic Customer Agreement at https://automatic.com/legal2018#customer.  Please see the Customer Agreement for complete terms and how to cancel.

The Automatic device collects detailed information about each vehicle’s geolocation, use, operation, performance and maintenance status in order to operate, maintain, and provide the features and functionalities of the Automatic Service.

For more information on PayTollo, visit www.paytollo.com.  

About Automatic

Automatic Labs Inc., a SiriusXM company, turns almost any car into a connected car. By pairing Automatic’s app and in-car adapter, drivers are able to enhance their driving experience with a host of connected services. Automatic helps customers drive safer and smarter with applications that diagnose engine trouble, detect accidents, send emergency responses when needed, and save money. Developers can use the Automatic platform to build services and applications that use driving data with interoperable access to cars on the road. Automatic is headquartered in San Francisco. For more information, visit www.automatic.com.

About PayTollo

Core to the PayTollo Platform is its patent pending GPS Toll Recognition Technology (TRT). TRT is PayTollo’s proprietary algorithm and user interface, which allows the ability to notify, verify and charge a user for toll crossings. PayTollo’s platform technology includes account management, payment processing, and customer service. PayTollo is a complete “end to end” solution for consumers and enables the Toll Authority to reduce DMV look-ups, billed invoices, and get real-time verification. PayTollo reduces Toll Authority costs and time needed to collect funds. All Toll Authority clients have access to online dashboards for Executive or IT level management reports to monitor PayTollo users within the toll agency infrastructure. For more information, visit www.paytollo.com.

About SiriusXM

Sirius XM Holdings Inc. (NASDAQ: SIRI) is the world's largest radio company measured by revenue and has approximately 33.5 million subscribers. SiriusXM creates and offers commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment, and a wide-range of Latin music, sports and talk programming. SiriusXM is available in vehicles from every major car company and on smartphones and other connected devices as well as online at siriusxm.com. SiriusXM radios and accessories are available from retailers nationwide and online at SiriusXM. SiriusXM also provides premium traffic, weather, data and information services for subscribers through SiriusXM Traffic™, SiriusXM Travel Link, NavTraffic®, NavWeather™. SiriusXM delivers weather, data and information services to aircraft and boats through SiriusXM Aviation™ and SiriusXM Marine™. In addition, SiriusXM Music for Business provides commercial-free music to a variety of businesses. SiriusXM holds a minority interest in SiriusXM Canada which has approximately 2.6 million subscribers. SiriusXM is also a leading provider of connected vehicles services, giving customers access to a suite of safety, security, and convenience services including automatic crash notification, stolen vehicle recovery assistance, enhanced roadside assistance and turn-by-turn navigation.

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This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: our substantial competition, which is likely to increase over time; our ability to attract and retain subscribers, which is uncertain; interference to our service from wireless operations; consumer protection laws and their enforcement; unfavorable outcomes of pending or future litigation; the market for music rights, which is changing and subject to uncertainties; our dependence upon the auto industry; general economic conditions; the security of the personal information about our customers; existing or future government laws and regulations could harm our business; failure of our satellites would significantly damage our business; the interruption or failure of our information technology and communications systems; our failure to realize benefits of acquisitions or other strategic initiatives; rapid technological and industry changes; failure of third parties to perform; our failure to comply with FCC requirements; modifications to our business plan; our indebtedness; our principal stockholder has significant influence over our affairs and over actions requiring stockholder approval and its interests may differ from interests of other holders of our common stock; impairment of our business by third-party intellectual property rights; and changes to our dividend policies which could occur at any time. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2017, which is filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.

Source: SiriusXM

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