Quindell 's (QPP) bumpy ride continued this week as RAC ejected out of a joint venture to fit over 2m 'black boxes' into cars that record drivers' performances and can be used to inform insurance premiums.
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Quindell has agreed to acquire RAC's share of the venture, Connected Car Solutions, at a net cost of £3.5m. It expects eliminated roll-out costs to boost its cash flow by around £10m this year and £20m in 2015. And management have stood by their telematics target of 12m paying subscribers by 2020.