Verizon to acquire Hughes Telematics

Verizon Communications and Hughes Telematics have announced a definitive merger agreement under which Verizon will acquire Hughes Telematics for a total of US$612 million. Verizon says the transaction will expand its capabilities in the automotive and fleet telematics marketplace and accelerate growth in key vertical segments. Hughes offers a portfolio of services through its commercial fleet, aftermarket and original equipment manufacturer (OEM) offerings as well products and services for health providers
June 5, 2012 Read time: 2 mins

1984 Verizon Communications and 2149 Hughes Telematics have announced a definitive merger agreement under which Verizon will acquire Hughes Telematics for a total of US$612 million. Verizon says the transaction will expand its capabilities in the automotive and fleet telematics marketplace and accelerate growth in key vertical segments. Hughes offers a portfolio of services through its commercial fleet, aftermarket and original equipment manufacturer (OEM) offerings as well products and services for health providers and users.

The merger is expected to close in the third quarter of 2012, and Verizon plans to retain the existing management team and operate the new unit as a subsidiary within Verizon and operated as part of its Verizon Enterprise Solutions group. The business will continue to be headquartered in Atlanta.

"We expect M2M and telematics to drive significant growth for Verizon and we're taking an important step forward to accelerate solutions that will unlock more opportunities for existing and new Hughes Telematics and Verizon customers," said John Stratton, president of Verizon Enterprise Solutions.

For more information on companies in this article

Related Content

  • LA solar powered parking meters boosts city’s revenues
    March 2, 2012
    IPS Group, a San Diego-based high-tech parking meter company, has announced the completion of the installation of 10,000 new coin and credit-card parking meters throughout the city of Los Angeles.
    Read More
  • Emovis’ 5-step guide to educating drivers on road usage charging
    October 31, 2023
    If people don’t understand the benefits of road usage charging, then it is unlikely to have public support. Scott Jacobs of Emovis outlines ways in which key messages – particularly on fairness - can be put across
    Read More
  • Sensys Gatso Group reorganises
    August 21, 2015
    Following the acquisition of Gatso, the Sensys Gatso Group has announced its new organisational structure, with the creation of two separate business units: The Systems business unit comprises the whole systems organisation, consisting mainly of the existing operations in Sweden and the Netherlands as well as the sales offices in Germany, Singapore and the United Arab Emirates. The unit will be headed by Göran Löfqvist, who has worked for Sensys for 15 years, as executive vice president Systems The Ma
    Read More
  • Improve and increase mass transit systems to minimise congestion
    January 24, 2012
    Rather looking to solve congestion by spreading the load, perhaps we need to look at concentrating it. Michael L. Sena writes. We humans were made to walk and run at embarrassingly slow speeds by comparison with other, more fleet-footed organisms. The sea is not our natural habitat and we were definitely not designed to fly unaided. Nevertheless, humankind has evolved a method of living during the past century that is dependent on transporting its members over very long distances during relatively short per
    Read More

Highlighted Content