Verizon Communications Inc. announced that it has acquired Movildata Internacional, a Murcia, Spain-based provider of commercial fleet management solutions, in a strategic move that boosts Verizon Telematics' market position in Europe.
"This strategic acquisition strengthens Verizon Telematics' market position, accelerates growth and allows us to expand the footprint of our market-leading solutions and services," said Andrés Irlando, CEO of Verizon Telematics.
Movildata's established base complements Verizon Telematics' expanding operations in southern Europe, Verizon said, including in Italy and Portugal. Verizon Telematics noted it is building on its "strong presence" in Europe including in the United Kingdom, Ireland, the Netherlands, Germany, France and Poland.
Verizon cited a Berg Insight analysis showing that Spain, with its more than 5 million commercial vehicles, is the second-largest market for commercial vehicles in western Europe. The fleet management market is "significantly underpenetrated" compared to other European markets, the company added, so there's significant room for growth.
Terms of the Movildata transaction, which closed January 19, were not disclosed. Verizon noted, however, that Movildata employees have joined the Verizon Telematics team and will continue to drive sales and support for current fleet management products.
Verizon Telematics additionally plans to add Fleetmatics' REVEAL product to the portfolio of software solutions available to Spanish fleet operators. Fleetmatics also is part of Verizon and recently announced an office expansion in Dublin, Ireland.
"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," said Luis Enrique Rodrigo, CEO of Movildata.
