Verizon Acquires Fleetmatics For $2.4 Billion

Verizon Communications this week unveiled plans to buy Irish fleet and mobile management provider Fleetmatics Group for $2.4 billion to boosts the telecom carrier's IoT transportation portfolio. Fleetmatics offers cloud-based GPS tracking and mobile workforce management solutions to monitor vehicle location, file usage, speed and mileage. Fleetmatics has approximately 37,000 customers and nearly 740,000 subscribed vehicles worldwide.

In July, Verizon also closed its acquisition of Telogis Inc., a fleet management software provider based.

Partner Takeaway: These acquisitions bode well for Verizon channel partners looking to expand their transportation IoT capabilities.