The Michigan-based U.S. automaker, Ford Motor Company (F), showcased its commitment to offering better smartphone integration in its vehicles when it announced on Thursday that it has acquired software startup Livio.
Ford is looking to improve how drivers can safely access content on their mobile devices while on the road; Michigan-based Livio fits into the equation as the company is involved in developing software that allows drivers to connect their phones through car radios and other various dashboard entertainment systems. Sources state that Ford paid less than $10 million for Livio and its 11-man team; it was also noted that despite the acquisition, Livio will continue to supply current customers, including key competitor General Motors (GM).
Ford shares largely traded sideways on Thursday, gaining 0.41% as the closing bell rang. The stock is up 33% YTD.The Bottom Line
Shares of Ford Motor Company (F) are yielding 2.32% based on Thursday’s closing price of $17.27.
Ford Motor Company (F) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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