Verizon said it will acquire the California-based startup Telogis in a move the carrier said will "significantly" expand its connected vehicle business. Terms of the deal were not disclosed.
Telogis offers a cloud-based "location intelligence platform" that provides dynamic routing, navigation, telematics and services for businesses' mobile workforces. The startup has raised $126.28 million through seven rounds from three investors, according to CrunchBase.
The nation's largest mobile network operator last year launched "Hum," an after-market connected vehicle offering targeted at consumers, and CFO Fran Shammo said in April that Hum devices were a "large contributor" to the 176,000 connected gadgets other than smartphones and tablets that Verizon added during the first quarter of 2016. The acquisition of Telogis underscores Verizon's efforts to play a role in connected cars for the enterprise as well. Press release