M&A Deal Summary

Verizon Communications Acquires Fleetmatics Group

On August 1, 2016, Verizon Communications acquired internet software and services company Fleetmatics Group for 2.4B USD

Acquisition Highlights
  • This is Verizon Communications’ 4th transaction in the Internet Software and Services sector.
  • This is Verizon Communications’ 8th largest (disclosed) transaction.
  • This is Verizon Communications’ 19th transaction in the United States.
  • This is Verizon Communications’ 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2016-08-01
Target Fleetmatics Group
Sector Internet Software and Services
Buyer(s) Verizon Communications
Deal Type Add-on Acquisition
Deal Value 2.4B USD
Advisor(s) Morgan Stanley (Financial)
Goodwin Procter
Maples Group (Legal)

Target

Fleetmatics Group

Wellesley Hills, Massachusetts, United States
Fleetmatics Group PLC is a global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS). The Company's solutions enable businesses to meet the challenges associated with managing local fleets, and improve the productivity of their mobile workforces, by extracting actionable business intelligence from real-time and historical vehicle and driver behavioral data. Fleetmatics group's Web-based solutions provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage, and other insights into their mobile workforce, enabling them to reduce operating and capital costs, as well as increase revenue.

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Buyer(S) 1

Buyer

Verizon Communications

New York, New York, United States
Category Company
Founded 1983
Sector Communications
Employees104,400
Revenue 134.0B USD (2023)
DESCRIPTION
Verizon storefront in New York City.
Verizon storefront in New York City.

Verizon Communications is a provider of communications, information, and entertainment products and services to consumers, businesses and governmental agencies. Verizon offers voice, data and video services and solutions on wireless and wireline networks that are designed to meet customers’ demand for mobility, network connectivity, security and control. Verizon Communications was founded in 1983 and is based in New York City.

DEAL STATS #
Overall 19 of 34
Sector (Internet Software and Services) 4 of 6
Type (Add-on Acquisition) 15 of 28
State (Massachusetts) 2 of 2
Country (United States) 19 of 32
Year (2016) 5 of 9
Size (of disclosed) 8 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-25 Yahoo!

Sunnyvale, California, United States

Yahoo! is a provider of internet search tools, content, and communication services. The Company was formed in 1994 and is based in Sunnyvale, California.

Buy $4.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-12 Sensity Systems

Sunnyvale, California, United States

Sensity Systems, Inc. is an Internet of Things (IoT) platform for smart cities. Sensity Systems enables light owners to capitalize on the LED conversion process by embedding networking technology within both retrofit and new LED luminaires.

Buy -
Mergr

Product

Company

Legal