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Verizon completes acquisition of Fleetmatics

Staff Writer |
Verizon Communications announced completion of its $2.4 billion acquisition of Fleetmatics Group for $60 per share in cash.

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As a result, Fleetmatics shares will no longer be traded on the New York Stock Exchange.

As a Verizon company, Fleetmatics, headquartered in Dublin, Ireland, with North American headquarters in Waltham, Mass., is now part of the Verizon Telematics business, which offers comprehensive wireless, software and hardware solutions to consumers, enterprises, automakers and dealers to power connected-vehicle products around the world.

Fleetmatics brings to Verizon more than 42,000 customers, approximately 826,000 subscribers, a broad portfolio of industry leading products, and a team of 1,200 professionals focused on solving the critical challenges of businesses that deploy mobile workforces.

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