A multi-disciplinary team from Burges Salmon has advised the RAC on its joint venture with leading insurance and telecoms technology business Quindell.
The joint venture has created a new business, Connected Car Solutions Limited, which will distribute RAC and Quindell’s world-leading telematics and 4G technology. There has been an initial £30 million investment to Connected Car Solutions Limited by the parties.
RAC and Quindell have worked closely on the development of state-of-the-art telematics technology and the new joint venture company will market and distribute this technology across the UK, Europe and Canada.
Kerry Michael, RAC Commercial Director, said: "RAC has been looking after our members and their needs for more than 115 years. The formation, in association with Quindell, of Connected Car Solutions will enable us to continue delivering ground-breaking solutions into the future. Together, we will continue to improve the customer journey for our Members whilst driving down the cost of claims for the industry as a whole. Quindell's technology and integrated outsourcing offering is outstanding and we believe offers our members and commercial partners a best of breed solution that will enhance their driving experience."
The Burges Salmon team was led by partners Helen Scott-Lawler and Dominic Davis with support from associates Julie Book and Mark Cook, solicitor Tim Deacon, and trainee Jen Ashwell.