News
Acquisition aimed at strengthening U.S. telco’s connected car business.
Verizon late Tuesday acquired fleet management software specialist Telogis in a bid to bolster its connected car business.
Based in California, Telogis also provides tools that can integrate fleet information with billing, payroll, human resources, and CRM systems, among others, enabling customers to derive greater benefit from the data collected.
As well as offices in North America, Telogis also has a presence in Latin America, Asia-Pacific, and Europe.
"Telogis brings a world-class software platform and new distribution relationships to Verizon Telematics’ already expansive suite of connected vehicle solutions for consumers and enterprise customers," said Andrés Irlando, CEO of Verizon Telematics, in a statement.
"The combined strengths of our two companies’ unique assets better enable us to deliver best-in-class mobile enterprise management services to customers globally, while building scale and accelerating market share," he said.
Verizon Telematics offers a growing range of connected car products, from diagnostics and roadside assistance to in-vehicle entertainment. It sells to enterprises, car makers, and to consumers via its Hum brand.
"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 of Telogis.
The deal is subject to regulatory approval, and is expected to close in the second half of 2016. Financial terms were not disclosed.
