Verizon to Buy Fleetmatics for $2.4 Billion
Verizon Communications Inc. said Monday that it agreed to acquire mobile workforce-solutions company Fleetmatics Group PLC for $2.4 billion, widening Verizon’s fleet operations as it looks to diversify. The deal, at $60 a share in cash, represents a nearly 40% premium to Fleetmatics closing price Friday of $42.96. Fleetmatics’ web-based GPS tracking systems allow fleet operators to monitor vehicle location,
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