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Verizon to buy GPS vehicle-tracking company Fleetmatics for US$2.4b

Wednesday, August 3, 2016 - 05:50
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With its wireless business slowing, Verizon has been pursuing new sources of growth like mobile advertising, streaming video and the so-called Internet of Things.

New York

VERIZON Communications Inc agreed to buy GPS vehicle-tracking company Fleetmatics Group Plc in an all-cash deal valued at US$2.4 billion, vaulting the telephone giant deeper into the automotive-technology market.

Verizon will pay US$60 a share for the Dublin, Ireland-based