Telogis to Be Acquired by Verizon
Verizon Communications will buy Telogis Inc. for an undisclosed amount.
Telogis, founded in 2001, makes logistics software, most of which is sold to fleet operators. The firm will be added to Verizon’s Telematics unit. The unit operates in 40 markets worldwide.
The deal is expected to close during the second half of 2016.
“Verizon provides the brand equity, strength in the market, broad infrastructure and expansive global reach to take Telogis to the next level,” David Cozzens, Telogis’ CEO, said in a statement.
"This strategic acquisition positions our collective technologies and services uniquely in the market,” he said.
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Telogis’ cloud-based intelligence platform can tell if a truck driver is going a safe speed or wearing a seat belt, current weather conditions and more.
The company has offices in Europe and Latin America and development centers in Austin, Texas, Toronto, and Christchurch, New Zealand. Its products are used in more than 100 countries. Telogis has 700 employees worldwide and 145 in Orange County.
In 2013, the company raised $93 million in venture capital financing led by Kleiner Perkins Caufield & Byers. The Silicon Valley venture capital firm is known for supporting Google and Amazon.
Telogis was thought to be considering an initial public offering.
Last year, the company signed deals with Apple Inc. and AT&T Inc. Telogis also has agreements with car companies including Ford and General Motors.
