Verizon Communications $2.4 billion acquisition of Fleetmatics Group

1/8/2016
Public acquisition

$ 2.4 billion

Completed

1/8/2016


Overview:

  • Verizon Communications has acquired Dublin-based GPS vehicle tracking company Fleetmatics Group in a $2.4 billion deal.
  • The transaction was all-cash, and came to $60 per Fleetmatics Share.
  • The purchase by Verizon comes a mere week after its headline grabbing acquisition of Yahoo! assets.
  • Wells Fargo and PJT Partners acted as financial advisers to Verizon, with Morgan Stanley taking on that role for Fleetmatics.

Kurt Stumpo - Journalist

Jurisdictions:

United States
Ireland
United Kingdom

Deal type:

Public acquisition

Practice area:

M&A

Industry sector:

Technology and telecommunications


Firms:

Party: Verizon (Acquirer)


Party: Wells Fargo Bank (Financial adviser)

Party: PJT Partners (Financial adviser)


Party: Verizon (Acquirer)


Party: Fleetmatics (Target)

Lawyer: James Matarese


Party: Verizon (Acquirer)


Party: Fleetmatics (Target)

Lawyer: Patrick Quinlan