Verizon aims to pump up its IoT presence with fleet management deal

Verizon Communications plans to buy cloud-computing-focused fleet management firm Fleetmatics Group, in a deal that will pump up the telecom carrier’s internet of things portfolio.

The US$ 2.4 billion deal for the Dublin-based fleet management vendor will give Verizon a toehold in the GPS vehicle-tracking and connected cars markets. Fleetmatics, with U.S. headquarters in Waltham, Massachusetts, has about 37,000 customers and 737,000 subscribed vehicles worldwide.

The deal, announced Monday, “underlines Verizon’s commitment to the IoT space,” Dan Bieler, a digital business analyst with Forrester Research, said by email. “In terms of IoT revenues, this deal helps to improve Verizon’s positioning.”

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Author: Maria Dehn

Maria Dehn is a Writer at OpenStackServers.com. She has held editorial management positions for numerous print and Web publications. She has more than 17 years of Information Technologies and journalism experience and has written many books on cloud computing. She can be reached at [email protected]

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