Verizon has acquired a Spain-based provider of commercial fleet management solutions as a means to expand its operations in southern Europe.
Verizon Telematics’ acquisition of Movildata expands the company's presence in Europe, which currently includes locations such as the United Kingdom, Ireland, the Netherlands, Germany, France and Poland, according to Verizon Telematics. Now the company will be able to reach other countries in Europe, including Portugal and Italy.
Spain represents the second largest market for commercial vehicles in Western Europe, with more than five million commercial vehicles, according to industry analyst firm Berg Insight. Furthermore, the market for fleet management solutions is significantly underpenetrated compared to other major markets in Europe, creating opportunities for growth, Verizon Telematics said in a release.
Movildata employees have joined the Verizon Telematics team and will continue to support its current fleet management products, the communications company said. Verizon Telematics plans to add Fleetmatics' REVEAL to the portfolio of software solutions available to Spanish fleet operators.