Panasonic Corp. has acquired German audio streaming platform provider Aupeo GmbH to distribute music programs for the company's in-car audio system.
With the acquisition announced Monday by Panasonic Corp. of North America, the struggling consumer electronics maker plans to strengthen its automotive-related business. In its medium-term business plan, Panasonic aims to increase sales of auto-related business to ¥2 trillion in fiscal 2018 from ¥1 trillion at present.
Berlin-based Aupeo is licensed to operate streaming services in more than 40 countries through the Internet, while it also offers more than 6,000 channels for radio and other services.