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.

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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
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