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

  • Real time GPS tracking on school buses drives efficiencies
    January 25, 2012
    Application of real time GPS tracking to school buses is driving operational efficiencies and allowing parents to follow their childern's movements, report Jason Barnes
    Read More
  • Embedded OEM and aftermarket telematics solutions to reach 189 million by 2016
    April 17, 2012
    “Despite all the hype about hybrid and smartphone-based telematics solutions, embedded connected car systems still have a bright future,” says ABI Research telematics and navigation group director Dominique Bonte. “On the OEM side, solutions such as GM’s OnStar and Hyundai’s Blue Link offer more reliable safety and security functionality such as emergency calling. Similarly, embedded aftermarket systems for insurance telematics, road user charging, or stolen vehicle tracking offer the best performance. Fina
    Read More
  • Transcore challenges perceptions, targets broader markets
    December 13, 2012
    In August this year, Tracy Marks took over the presidency of TransCore, succeeding John Simler, who has moved on to other roles within parent company Roper Industries. A 19-year veteran of the company, Marks describes himself as having been groomed for the job. Previously responsible for TransCore’s Southern region in the US, he also took on a series of roles, including the top job at United Toll Systems, as part of moves which were carefully choreographed to prepare him for where he is now. The appointmen
    Read More
  • Smith Electric Vehicles attracts Chinese investment
    March 13, 2012
    Smith Electric Vehicles Corporation, a specialist in all-electric commercial vehicles, has signed a letter of intent with Wanxiang Group, an automotive parts manufacturing and supplier.
    Read More

Highlighted Content