Verizon Telematics acquires Movildata Internacional07 February 2018
The purchase forms part of the American company's expansion in Europe
The telecommunications company Verizon Communications has acquired Movildata Internacional, a provider of commercial fleet management solutions. The transaction, which was completed on January 19, forms part of the US company's expansion strategy in Europe, where it is already well established, specifically in the United Kingdom, Ireland, Netherlands, Germany, France and Poland.
Based in Murcia, Movildata has an important presence in Spain, and thus complements Verizon Telematics' expansion operations in southern Europe, particularly in Portugal and Italy. According to Andrés Irlando, CEO of the purchasing company: “We see Movildata as a natural fit and highly synergistic with our European business”, and adds: “This strategic acquisition strengthens Verizon Telematics' market position, accelerates growth and allows us to expand the footprint of our market-leading solutions and services”.
Spain is the second largest market for commercial vehicles in Western Europe, with over five million units. However, the penetration of fleet management solutions is significantly lower than in other European markets, which creates interesting opportunities for growth for Verizon.
The Movildata employees will join the Verizon Telematics team to drive sales and support for its current products. Fleetmatics' Reveal will now be added to the portfolio of software solutions available to Spanish fleet operators. This is one of the business intelligence solutions Verizon Telematics offers its clients for vehicle tracking and which generates cost savings and improves productivity and the security of its fleets.
Luis Enrique Rodrigo, CEO of Movildata, says of the integration in Verizon: “We are proud of what the company has accomplished in this market, and we know that with this transaction our success will continue. 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”.