Verizon Telematics has acquired Movildata Internacional, a Spain-based fleet management provider.
US telecoms giant Verizon is continuing to grow its European footprint, with the news that its fleet management division, Verizon Telematics, has acquired Murcia-based company Movildata Internacional.
The transaction closed on 19 January and the terms have not been disclosed.
Verizon Telematics is also the parent company of Irish mobile workforce management company Fleetmatics, which was acquired in 2016 for $2.4bn.
The acquisition of Movildata will complement Verizon Telematics’ expanding European operations, specifically in Italy and Portugal.
CEO of Verizon Telematics, Andrés Irlando, said: “We see Movildata as a natural fit and highly synergistic with our European business.
“This strategic acquisition strengthens Verizon Telematics’ market position, accelerates growth, and allows us to expand the footprint of our market-leading solutions and services.”
Spain a major opportunity for fleet management
Spain is home to more than 5m commercial vehicles and represents the second-largest market for commercial vehicles in western Europe, according to Berg Insight.
There are also major opportunities in the Spanish fleet management market as it is significantly less saturated in comparison to other large European markets.
Movildata employees have joined the Verizon Telematics team, and Verizon will also add Fleetmatics’ Reveal to the portfolio of software solutions available to fleet operators in Spain.
“We are proud of what the company has accomplished in this market, and we know that, with this transaction, our success will continue,” said Luis Enrique Rodrigo, CEO of Movildata.
He continued: “Verizon Telematics’ expansive global reach and robust portfolio of technologies and solutions will allow us to grow the business in Spain and expand our customer service to the next level.”
This new deal will see Verizon’s foothold grow in Europe, with a strong presence already in the UK, Ireland, the Netherlands, Germany, France and Poland.