Verizon has agreed to buy Hughes Telematics for $612 million, bolstering its efforts to hook cars up with wireless service.
The New York telecommunications company said today that the all-cash deal would expand its ability to serve the fleet and automotive telematic industries. The deal is expected to close in the third quarter, and Verizon said it plans to retain the existing management team and its headquarters in Atlanta.
The connected devices -- or machine-to-machine -- business is increasingly seen as the next growth area for the wireless industry. The opportunity to connect cars with entertainment, safety, security, and maintenance … Read more