In the last days before the demise of its Wingcast LLC telematics joint venture, Ford Motor Co. rejected two purchase offers from Delphi Corp.
According to Automotive News, sources familiar with the proposed deals said Delphi wanted to buy Wingcast to cement its status as a major supplier of telematics hardware.
Martin Inglis, Ford's group vp of business strategy, rejected both offers in late May, Automotive News reported.
Wingcast was launched by former Ford CEO Jacques Nasser and was originally expected to provide telematics for 1 million Ford cars and trucks by the end of this year. After Nasser's firing last October, Wingcast became a cost-cutting target under Ford chairman Bill Ford's turnaround plan. Delphi generates $380 million in annual telematics revenue and is a major hardware provider to OnStar, General Motors' in-house telematics operation. Delphi CEO J.T. Battenberg III has identified telematics hardware as a core business.