Verizon Communications announced the acquisition of Movildata Internacional, a Murcia, Spain-based provider of commercial fleet management solutions.
Terms of the transaction, which closed on Jan. 19, have not been disclosed.
Movildata complements Verizon Telematics’ expanding operations in southern Europe, specifically Portugal and Italy, Verizon said.
“We see Movildata as a natural fit and highly synergistic with our European business,” said Andrés Irlando, CEO of Verizon Telematics. “This strategic acquisition strengthens Verizon Telematics’ market position, accelerates growth and allows us to expand the footprint of our market-leading solutions and services.”
With more than 5 million commercial vehicles, Spain represents the second-largest market for commercial vehicles in Western Europe, according to Berg Insight.
“Furthermore, the market for fleet management solutions is significantly underpenetrated compared to other major markets in Europe, creating opportunities for growth,” Verizon said.
Movildata employees have joined the Verizon Telematics team and will continue to drive sales and support for its current fleet management products, Verizon said. In addition, Verizon Telematics plans to add Fleetmatics’ REVEAL to the portfolio of software solutions available to Spanish fleet operators.
“We are proud of what the company has accomplished in this market, and we know that with this transaction our success will continue,” said Luis Enrique Rodrigo, CEO of Movildata. “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.”