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Why Verizon Made Another Acquisition to Bolster Its Internet of Things Business

Why Verizon made another acquisition to bolster its Internet of things business

  • Why Verizon Made Another Acquisition to Bolster Its Internet of Things Business
  • The price is about eight times Fleetmatics $298 million of revenue over the past 12 months through March 31 and almost 73 times its net income over that time.
  • Even with revenue growing about 20% per quarter, Fleetmatics is expanding more slowly than Verizon’s existing IoT business.
  • Fleetmatics was one of the few public cloud-software companies to show consistent growth in revenue and profits at the same time.
  • Market data provided by Interactive Data .

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@FortuneMagazine: “Why Verizon made another acquisition to bolster its Internet of things business”


Verizon is acquiring trucking tracker Fleetmatics for $2.4 billion to bolster the carrier’s growing IoT business.


Why Verizon Made Another Acquisition to Bolster Its Internet of Things Business

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