Connected Transportation, and the infrastructure necessary to make it happen, is probably the most critical bit of the IoT that isn’t nearly developed enough right now to meet the needs and wants of its industry. Verizon has apparently seen this and made two big consecutive moves to get its hands in there now, while the getting is still good.
The company has announced that it will buy Fleetmatics Group, a major global provider of fleet and mobile workforce management solutions, for about $2.4 billion. In addition, it will add Software-as-a-Service (SaaS) technology and services to its Verizon Telematics subsidiary by acquiring Telogis, Inc., a private company based in Aliso Viejo, California.
“Fleetmatics is a market leader in North America— and increasingly internationally— and they've developed a wide-range of compelling SaaS-based products and solutions for small- and medium-sized businesses,” said Andrés Irlando, CEO, Verizon Telematics. “The powerful combination of products and services, software platforms, robust customer bases, domain expertise and experience, and talented and passionate teams among Fleetmatics, the recently-acquired Telogis, and Verizon Telematics will position the combined companies to become a leading provider of fleet and mobile workforce management solutions globally.”
With approximately 1,200 employees, Fleetmatics is headquartered in Dublin, Ireland, with North American headquarters in Waltham, Massachusetts. The company’s Web-based solutions provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage. Telogis brings a software platform and new distribution relationships to Verizon Telematics suite of connected vehicle solutions for consumers and enterprise customers.
“Verizon provides the brand equity, strength in the market, broad infrastructure and expansive global reach to take Telogis to the next level,” said David Cozzens, CEO, Telogis. “This strategic acquisition positions our collective technologies and services uniquely in the market while also enabling Verizon Telematics’ industry-leading business to benefit from Telogis’ unmatched strength in the enterprise market, innovative Mobile Enterprise Management software platform and our strong OEM and ecosystem partnerships.”
Edited by Alicia Young