Verizon Buys Telogis

Telecom giant Verizon announced in late-June that it is acquiring Telogis, a California-based company that develops cloud-based solutions for the mobile workforce, and specifically telematics, compliance, and navigation software used by Ford, Volvo, GM, and other car companies, as well as Apple and AT&T.

Financial terms of the deal have not been disclosed. Before the acquisition, the two companies competed against each other for business from the trucking and other industries. Verizon Telematics, as the business is called, is active in 40 countries.

Driven by the rise of outsized "startups" like Uber and Lyft that are reimagining transportation and (the costly move into) logistics; moves made from big car companies and tech giants; and the emergence of a new class of startups that are specifically pinpointing things like telematics and the commercial transportation/trucking industry, autos are the next big platform for connected services.

The acquisition is expected to close in the second half of 2016, Verizon said.