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.

Related Content

  • July 15, 2015
    BorgWarner to acquire Remy International
    US automotive industry components and parts supplier BorgWarner is to acquire Remy International, a leading producer of rotating electrical components. With key technologies and operations in ten countries on five different continents, BorgWarner says Remy is strongly positioned to benefit from global growth. “We look forward to welcoming Remy’s talented employees to BorgWarner. Their products and capabilities will strengthen BorgWarner’s position in the rapidly developing powertrain electrification tre
    Read More
  • June 22, 2012
    3M to acquire FSTech from Federal Signal Corporation
    3M has entered into an agreement to acquire the business of Federal Signal Technologies Group (FSTech) from Federal Signal Corporation for a purchase price of US$110 million in cash, subject to post-closing adjustments. 3M says the fast-growing $3 billion electronic tolling industry is projected to grow at a rate greater than 12 per cent per year as government agencies increasingly rely on tolling to fund roadway infrastructure, construction and maintenance. The company says FSTech’s solutions for electroni
    Read More
  • November 20, 2015
    Fleet management systems in Europe expected to reach 8.9 million by 2019
    According to a new research report from the analyst firm Berg Insight, the number of active fleet management systems deployed in commercial vehicle fleets in Europe was 4.40 million in the fourth quarter of 2014. Growing at a compound annual growth rate (CAGR) of 15.1 percent, this number is expected to reach 8.90 million by 2019.
    Read More
  • April 20, 2017
    WiLAN to acquire International Road Dynamics
    Canadian patent licensing company WiLAN is to acquire intelligent transportation systems (ITS) supplier International Road Dynamics for an equity value of approximately US $47.4 million (CA$63.5 million). The acquisition is part of WiLAN’s growth strategy which will see it operate under the Quarterhill name from around the beginning of June 2017.
    Read More

Highlighted Content