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

  • GE Energy forges charger agreement with Coda Automotive
    March 23, 2012
    GE Energy Industrial Solutions has finalised an automotive original equipment manufacturer (OEM) agreement for the sale and distribution of the GE WattStation wall mount electric vehicle (EV) charging station with EV manufacturer, Coda Automotive.
    Read More
  • More for less with traffic control centre technology
    May 31, 2013
    Rich pickings are now available in a maturing market supplying screens and processors for traffic management operations. Jon Masters reviews what’s on offer. Competition in supply of technology for traffic management and control centres has increased significantly in recent years. Suppliers introduced better products and customers are changing the way they operate, which benefits traffic authorities and emergency services alike. These are the views of Electrosonic’s control rooms solutions sales manager Pa
    Read More
  • IRD awarded Caltrans WIM maintenance deal
    June 27, 2014
    International Road Dynamics (IRD) is to provide the California Department of Transportation (Caltrans) with equipment maintenance, software maintenance, and on-call service for their state-wide network of weigh-in-motion (WIM) systems at approximately 250 locations across the state. This new service agreement has a total value of US$4.7 million and provides for the maintenance of both Caltrans' commercial vehicle enforcement systems and traffic data collection systems from for the next three years.
    Read More
  • Sensys Networks lands $8.5 million in funding
    March 2, 2012
    Sensys Networks, a leading provider of integrated wireless traffic data systems for smart cities, has raised US$8.5 million in a new round of funding led by Siemens Venture Capital (SVC) with participation from existing investors Fuse Capital, Horizon Ventures, Voyager Capital and Gruener Ventures. SVC’s Michael Sears will also join the board of Sensys Networks. Describing the funding as an important milestone for the company, Dr. Amine Haoui, CEO of Sensys Networks, said, “This capital will allow Sensys Ne
    Read More

Highlighted Content