Verizon Completes $2.4 Bln Acquisition Of Fleetmatics - Quick Facts

(RTTNews) - Verizon Communications Inc. (VZ) said it has completed the $2.4 billion acquisition of Fleetmatics Group PLC (FLTX) for $60.00 per share in cash. Fleetmatics is a provider of fleet and mobile workforce management solutions.

As a result, Fleetmatics shares will no longer be traded on the New York Stock Exchange. Fleetmatics brings to Verizon more than 42,000 customers, about 826,000 subscribers, a broad portfolio of products, and a team of 1,200 professionals.

As a Verizon company, Dublin, Ireland-based Fleetmatics, with North American headquarters in Waltham, Massachusetts, is now part of the Verizon Telematics business.

The Verizon Telematics business offers wireless, software and hardware solutions to consumers, enterprises, automakers and dealers to power connected-vehicle products around the world.

The transaction, announced August 1, 2016, has since received the approval of Fleetmatics' shareholders and the Irish High Court, which sanctioned the scheme of arrangement by which Verizon has acquired Fleetmatics.