NEW YORK, June 21, 2016 /PRNewswire/ -- Seeking to add
best-in-class Software-as-a-Service (SaaS) technology and services,
specifically in the connected vehicle and mobile enterprise
management sectors—as well as expanded distribution
relationships—to its Verizon Telematics subsidiary, Verizon
Communications Inc. (NYSE, Nasdaq: VZ) today announced it has
signed an agreement to purchase Telogis, Inc., a private company
based in Aliso Viejo,
California.
"With a comprehensive enterprise product portfolio and
partnerships with some of the world's leading vehicle and equipment
manufacturers, Telogis brings a world-class software platform and
new distribution relationships to Verizon Telematics' already
expansive suite of connected vehicle solutions for consumers and
enterprise customers," said Andrés Irlando, CEO of Verizon
Telematics. "The combined strengths of our two companies' unique
assets better enable us to deliver best-in-class mobile enterprise
management services to customers globally, while building scale and
accelerating market share. I'm confident that the passion and
talent of our collective employees will continue to drive revenue
growth and product innovations to shape and lead the industry for
years to come."
"Verizon provides the brand equity, strength in the market,
broad infrastructure and expansive global reach to take Telogis to
the next level," said David Cozzens,
CEO, Telogis. "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."
Terms of the transaction have not been disclosed. The
acquisition is subject to customary regulatory approvals and is
expected to close in the second half of 2016.
In connection with the transaction, PJT Partners and Wells Fargo
Securities, LLC acted as financial advisors and Debevoise &
Plimpton acted as legal advisor to Verizon. Barclays and J.P.
Morgan acted as financial advisors and Paul Hastings LLP acted as
legal advisor to Telogis.
Verizon Telematics empowers customers with a wide breadth of
premium solutions in the connected vehicle space. It operates in
more than 40 markets worldwide and offers comprehensive services to
consumers, enterprises, automakers, and dealers, providing
technological and service expertise to power connected-vehicle
products around the world.
About Telogis
Telogis, Inc., the platform for
connected intelligence, is dedicated to enhancing the value of its
customers' businesses through intelligent integration of location
technology, information and services. Telogis was established in
2001 and is headquartered in Aliso Viejo,
Calif., with offices in Europe, Australia and Latin
America as well as development centers in Austin, Texas; Toronto; and Christchurch, New Zealand. Telogis' products
and services are used and distributed in more than 100 countries
worldwide.
About Verizon
Verizon Communications Inc. (NYSE,
Nasdaq: VZ), headquartered in New York
City, generated nearly $132
billion in 2015 revenues. Verizon operates America's most
reliable wireless network, with 112.6 million retail connections
nationwide. The company also provides communications and
entertainment services over America's most advanced fiber-optic
network, and delivers integrated business solutions to customers
worldwide.
Verizon's Online News Center: News releases, feature stories,
executive biographies and media contacts are available at Verizon's
online News Center at www.verizon.com/news/. News releases are also
available through an RSS feed. To subscribe, visit
www.verizon.com/about/rss-feeds/.
Media contacts:
Bob Varettoni, Verizon
908.559.6388
robert.a.varettoni@verizon.com
Krys Grondorf, Telogis
949.389.5581
krys.grondorf@telogis.com
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SOURCE Verizon