Verizon Eyes Hughes Telematics
The wireless leader Verizon Communications Inc. (NYSE:VZ) plans to acquire Hughes Telematics Inc. (HUTC) for $612 million in cash or $12 per share. The purchase price is at a massive premium to Hughes’ closing price of $4.35. The proposed acquisition will expand Verizon’s presence in the automotive and fleet telematics as well as machine-to-machine (M2M) [...]
The wireless leader Verizon Communications Inc. (NYSE:VZ) plans to acquire Hughes Telematics Inc. (HUTC) for $612 million in cash or $12 per share. The purchase price is at a massive premium to Hughes’ closing price of $4.35.
The proposed acquisition will expand Verizon’s presence in the automotive and fleet telematics as well as machine-to-machine (M2M) service applications. This strategic move would boost revenues of the company’s enterprise business, and will give it a competitive … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards