Verizon has announced it will be acquiring Irish fleet management firm Fleetmatics for $2.4 billion. The news comes barely a week after the US-based telco announced a $4.5 billion bid for embattled Internet stalwart Yahoo.
Fleetmatics develops software for the tracking of commercial vehicles using GPS. The company has its headquarters in Tallaght, where it employs 200, and a global headcount of 1,200. The company was founded 2004 and has clients in in the UK, US, Austria, Canadar, France, Ireland, Italy, Mexico, and the Netherlands. In 2012 it floated on the New York Stock Exchange valued at $100 million.
“Verizon and Fleetmatics share a vision that the SaaS-based fleet management solution market is extraordinarily large, lightly penetrated, global and fragmented which can best be attacked together with a world class product offering and the largest distribution channel in the industry,” said Fleetmatics chief executive Jim Travers (pictured).
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