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

  • Redflex acquires Smart Bus
    May 21, 2012
    Redflex Traffic Systems has acquired SBL Investments, and Americore Enterprises, leading providers of automated school bus arm photo enforcement in the United States. SBL and Americore offer the Smart Bus system, a dedicated on‐bus photo enforcement system intended to ‘Protect Our Most Precious Cargo, our children’. The acquisition positions Redflex as a leading provider of school bus safety photo enforcement technology at a time when more and more school districts are using the technology to deter reckless
    Read More
  • Tags or communication based toll payment systems?
    January 20, 2012
    Midland Expressway Ltd's Tom Fanning discusses deployment of Near Field Communicationbased payment on the M6 Toll facility The M6 Toll's introduction from early next year of Near Field Communication (NFC) is a pragmatic response to the relative scarcity of tolled facilities and the concomitant low levels of tag take-up in the UK, according to the road's operator, Midland Expressway Ltd (MEL). Nevertheless, Dedicated Short-Range Communication (DSRC)-based tags operating at 5.8GHz are still a key part of the
    Read More
  • Q-Free reports strong revenue growth
    February 12, 2015
    Q-Free has reported strong revenue growth in the fourth quarter of 2014, reflecting a substantial increase in sales within the advanced transportation management systems (ATMS) business following the acquisition of US-based Open Roads by the end of the third quarter 2014 and an increase in product revenues. “In early 2014, we revised our strategy and now aim at creating more leads in the small and mid-sized segments. In Q4, we have made significant progress in this respect. At the same time we succeeded
    Read More
  • A carbon free and accident free Europe by 2015?
    February 2, 2012
    By 2050, the Europe Commission aims to make transport in Europe carbon- and accident-free. Between now and then, however, a significant technological development and deployment effort is needed. Here, Neelie Kroes, European Commission Vice-President for the Digital Agenda, talks about what's being done. In many respects, COOPERS, CVIS and SAFESPOT, set up by the European Commission (EC) to explore the potential of cooperative infrastructure systems, are already legacy projects. Between them, the three devel
    Read More

Highlighted Content