Verizon to Acquire Fleetmatics in $2.4B Deal


Aug 01 2016

"Hot off the heels of its acquisition of Yahoo last week for $4.8 billion, today Verizon announced another huge purchase: it’s buying Fleetmatics, a telematics company based out of Dublin, Ireland, for $2.4 billion in cash,"


More Details

Highlights

+ $2.4 billion in cash

+ $60 a share (40% premium over last weeks closing) NYSE:FLTX

+ Fleetmatics brings over 37,000 customers and approximately 737,000 subscribers

Additional Coverage

- https://techcrunch.com/2016/08/01/verizon-buys-fleetmatics-for-2-4b-in-cash-to-step-up-in-telematics/

- http://www.bloomberg.com/news/articles/2016-08-01/verizon-agrees-to-buy-fleetmatics-in-2-4-billion-deal

- http://www.cnbc.com/2016/08/01/reuters-america-update-1-verizon-to-buy-gps-tracking-company-fleetmatics-for-24-bln.html





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