Verizon's car-tracking foray could spur more deals

New York

VERIZON Communications Inc's recent purchases of two vehicle-tracking firms could spark more deals as the No 1 wireless provider and rival AT&T sees fleet management as a source of growth, analysts said.

Faced with a saturated wireless market, several telecom companies are looking beyond their main phone business for ways to extract more value from existing networks. Just last month, Verizon bought Yahoo for US$4.8 billion, diving into digital media and advertising.