Verizon acquisition boosts fleet management portfolio

In a deal worth around US$2.4 billion, US-based Verizon Communications is to acquire Fleetmatics Group as it seeks to accelerate its position as a provider of fleet and mobile workforce management solutions. Fleetmatics has developed a wide range of software as a service (SaaS)-based products and solutions for small and medium-sized businesses. According to Verizon, the combination of products and services, software platforms, strong customer bases, domain expertise and experience, as well as the recent
August 3, 2016 Read time: 2 mins
In a deal worth around US$2.4 billion, US-based 1984 Verizon Communications is to acquire 1058 Fleetmatics Group as it seeks to accelerate its position as a provider of fleet and mobile workforce management solutions.

Fleetmatics has developed a wide range of software as a service (SaaS)-based products and solutions for small and medium-sized businesses.  According to Verizon, the combination of products and services, software platforms, strong customer bases, domain expertise and experience, as well as the recently-acquired Telogis and Verizon Telematics will position the combined companies to become a leading provider of fleet and mobile workforce management solutions globally.

With approximately 1,200 employees, Fleetmatics is headquartered in Dublin, Ireland, with North American headquarters in Waltham, Massachusetts. The company’s web-based solutions provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage and other insights into their mobile workforce, helping them to reduce operating costs, as well as increase revenue.

Verizon Telematics, a subsidiary of Verizon Communications, operates in more than 40 markets worldwide and offers comprehensive wireless, software and hardware solutions to consumers, enterprises, automakers and dealers to power connected-vehicle products around the world.
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