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Verizon to buy Fleetmatics for USD 2.4 billion

2016-08-01 15:37:00| Telecompaper Headlines

(Telecompaper) Verizon is continuing its acquisition spree in new growth areas with a deal to buy Fleetmatics for USD 2.4 billion. The operator is offering USD 60 per share cash for the provider fleet and mobile workforce management services, equal to a premium of nearly 40 percent on the closing share price the day before the takeover was announced. Flletmatics offers a range of SaaS products aimed at SMEs in North America and has been expanding its presence internationally. It counts over 37,000 customers with a combined total of some 737,000 subscribers.

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Category:Telecommunications

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