Today's Hard|Forum Post
Today's Hard|Forum Post

Sunday June 03, 2012

Verizon to Buy Hughes Telematics for $612 Million

On Friday Verizon and Hughes Telematics made the announcement that Verizon will be purchasing Hughes for $612 million. Hughes specializes in automotive in-car communication technology and will provide an avenue for expansion into automotive communications for Verizon. The deal will close in the third quarter after government approval.

Verizon intends to operate Hughes as a subsidiary within Verizon’s Enterprise Solutions group. It will keep on Hughes’ exiting management team.