Verizon completes acquisition of Fleetmatics
Acquired company specializes in SaaS fleet management
Verizon Communications has completed the USD2.4-billion acquisition of Fleetmatics Group, according to a press release. The US-based company paid USD60 per share in cash for the acquisition of the Ireland-headquartered company that specializes in software-as-a-service (SAAS) fleet management. The acquired business in now part of the Verizon Telematics business that provides wireless, software and hardware solutions to consumers, automakers, enterprises and others to power connected-vehicle products.
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