General Motors (GM) Scoops-up Assets from Ride-Sharing Provider, Sidecar

General Motors (NYSE: GM) may have just invested $500 million in Lyft, but the plucky, ride-sharing service isn't the only asset that the auto manufacturer has been putting money into.

According to Bloomberg, General Motors bought up the technology and most assets of San Francisco-based Sidecar Technologies. Sidecar Chief Technology Officer Jahan Khanna and 20 other employees will be joining GM once the acquisition completes.

Though the price of the deal wasn't made available, sources believe it could've been done for under $39.

Sidecar employees will be supporting the Lyft alliance and other initiative being undertaken by GM.

Shares of GM are down 0.7 percent.

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