Verizon in $2.4bn deal for GPS firm

US communications giant Verizon has agreed to buy GPS vehicle-tracking company Fleetmatics Group in an all-cash deal valued at $2.4bn (€2.1bn), vaulting the telecom giant deeper into the automotive-technology market.
Verizon in $2.4bn deal for GPS firm
Tue, 02 Aug, 2016 - 01:00
Paul Barbagallo, Bloomberg

Verizon will pay $60 a share for the Dublin-based company, a 40% premium to Fleetmatics’ closing price last week.

The deal is expected to close in the fourth quarter.

Already a subscriber? Sign in

You have reached your article limit.

Subscribe to access all of the Irish Examiner.

Annual €130 €80

Best value

Monthly €12€6 / month

Benefit image

CONNECT WITH US TODAY

Whatsapp logo

WHATSAPP

Newsletter logo

NEWSLETTERS

Notification logo

NOTIFICATIONS

Be the first to know the latest news and updates

More in this section

DAA denies ad campaign about airport emissions was effort at greenwashing  DAA denies ad campaign about airport emissions was effort at greenwashing 
ieBusiness Podcast: Cork Film Festival Director Fiona Clark speaks of soaring running costs ieBusiness Podcast: Cork Film Festival Director Fiona Clark speaks of soaring running costs
Jaguar Land Rover cyber attack Jaguar Land Rover cyber attack cost UK €2.2bn
verizonGPsFleetmatics GroupPlace: USPlace: DublinPlace: CaliforniaPlace: New YorkOrganisation: VerizonOrganisation: Fleetmatics GroupOrganisation: FleetMatics’Organisation: Verizon TelematicsOrganisation: TelogisOrganisation: YahooOrganisation: VodafoneOrganisation: Verizon WirelessOrganisation: PJT PartnersOrganisation: Wells Fargo SecuritiesOrganisation: Cleary Gottlieb SteenOrganisation: A&L GoodbodyOrganisation: MacfarlanesOrganisation: Morgan StanleyOrganisation: Fleetmatics
<p>Residents inspect houses damaged during a flood in Malalak, West Sumatra, Indonesia, last November. Picture: Ade Yuandha/AP</p>

Our money is fuelling climate change

READ NOW

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Latest

Business

Push Notifications

By clicking on sign up you will be the first to know about a selection of business content on this browser. Please note if you are unable to sign up via your mobile web browser, download and sign up for mobile push notifications via our FREE news app.

Sign Up
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Fergus Finlay
Fergus Finlay

Analysis

Lunchtime News

Newsletter

Keep up with stories of the day with our lunchtime news wrap and important breaking news alerts.

Most Read

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited