Verizon Buys Fleetmatics for $2.4 Billion

Verizon is not sitting down for one minute as they buy the GPS tracker company Fleetmatics. The company paid $2.4 billion for the company that will make Verizon’s entrance to the IoT world.

With Fleetmatics, Verizon will be able to offer car fleets tracker and will compete with BlackBerry Radar that focus on the tracking and shipping world.

For those who don’t know Fleetmatics, The US company from Waltham, Massachusetts develops the GPS software that give you location, Fuel usage, Speed, and more.

Verizon will pay $60 per share.


Roy Shpitalnik

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