According to Verizon, Telogis will bring a “world-class software program and new distribution relationships” to the carrier’s Telematics subsidiary. Verizon said the acquisition would help boost its suite of connected vehicle solutions and help drive revenue growth for the company.
Verizon’s Telematics subsidiary currently offers a number of solutions for both consumers and enterprise, including Hum, a self-installed module that provides drivers with diagnostic information, roadside assistance and emergency assistance on demand.
Founded in 2001, Telogis brings with it a platform for connected intelligence that integrates location technology with information and services. The company has offices in California, Europe, Australia and Latin America, with development centers in Texas, Toronto and New Zealand. Telogis’ products and services are used and distributed in more than 100 countries worldwide. Telogis also has partnerships with car manufacturers like Ford, General Motors and Volvo, as well as big-name tech companies like Apple.
Telogis CEO David Cozzens said the deal will be mutually beneficial for the companies.
“Verizon provides the brand equity, strength in the market, broad infrastructure and expansive global reach to take Telogis to the next level,” Cozzens said. “This strategic acquisition positions our collective technologies and services uniquely in the market while also enabling Verizon Telematics’ industry-leading business to benefit from Telogis’ unmatched strength in the enterprise market, innovative Mobile Enterprise Management software platform and our strong OEM and ecosystem partnerships.”
The terms of the deal were not disclosed. The transaction is expected to close in the second half of this year.
In the first quarter 2016, connected car additions accounted for 32 percent of net device additions for U.S. operators, surpassing phone net additions which accounted for 31 percent, Chetan Sharma Consulting found. According to the report, AT&T added more connected cars than all other operators combined.
Source: Wireless Week