Verizon Bolsters Telematics With Fleetmatics, Telogis Deals
Verizon agreed to pay $2.4 billion to acquire Dublin-based Fleetmatics, a fleet and mobile workforce management company serving small and medium-sized businesses, the telco said in a news release Monday. Friday Verizon closed an acquisition of Telogis (see 1606210069), another…
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fleet management software-as-a-service company, it said. The combination of Verizon Telematics, Fleetmatics and Telogis “will position the combined companies to become a leading provider of fleet and mobile workforce management solutions globally," said Verizon Telematics CEO Andrés Irlando. Fleetmatics has 37,000 customers, 737,000 subscribers and 1,200 employees, Verizon said. The Fleetmatics acquisition is subject to regulatory approvals and closing conditions, including shareholder approval and the sanction by the Irish High Court of the arrangement by which Verizon will buy Fleetmatics. Verizon expects the deal to close in Q4, it said.