American telecom giant Verizon Communications Inc. today announced the completion of the acquisition of Fleetmatics Group PLC for $2.4 billion in cash.
Fleetmatics, headquartered in Dublin, Ireland, with North American headquarters in Waltham, Mass., is now part of the Verizon Telematics business.
Andres Irlando is the CEO of Verizon Telematics. Jim Travers is the CEO of Fleetmatics.
Fleetmatics has more than 42,000 customers, approximately 826,000 subscribers and a team of 1,200 professionals.
Verizon Communications, headquartered in New York City, has 162,000 employees and generated nearly $132 billion in 2015 revenues.
