How Fleetmatics transformed into a global powerhouse
Verizon’s planned purchase of the Tallaght-based vehicle-tracking firm for $2.4 billion is the latest chapter in a long story
Last Monday, the US telecommunications giant Verizon announced that it was to buy Tallaght-based Fleetmatics, for $2.4 billion (€2.15 billion) in cash.
Fleetmatics – a global powerhouse in the GPS vehicle-tracking sphere founded in 2004 – was “basically the getting together of two companies”, said Jim Keating, the founding chairman of Fleetmatics who is no longer involved with the company. Its origins, however, date back a bit further than 2004.
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