Verizon Bets on Connected Car
Verizon Communications Inc. agreed to buy Hughes Telematics Inc., a provider of wireless-enabled services to cars, for $612 million in cash as the telecom heavyweight aims to broaden the way people use its network.
Atlanta-based Hughes provides auto-based technology and services such as online media, remote vehicle diagnostics and even medical-related services. For Verizon, the deal, expected to close in the third quarter, comes as the carrier will likely expand its data plans to cover more products.
