Press Release August 01, 2016

Fleetmatics to be Acquired by Verizon for $2.4B

Goodwin represented longtime client Fleetmatics Group PLC (NYSE: FLTX), a leading global provider of fleet and mobile workforce management solutions, in its announced definitive agreement with Verizon Communications Inc. (NYSE, Nasdaq: VZ) under which Fleetmatics will be acquired by Verizon for $60.00 per share in cash – representing a value of approximately $2.4 billion.

Fleetmatics is a leading global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS). Fleetmatics’ solutions enable businesses to meet the challenges associated with managing local fleets, and improve the productivity of their mobile workforces, by extracting actionable business intelligence from real-time and historical vehicle and driver behavioral data.

Verizon operates America’s most reliable wireless network with 113.2 million retail connections nationwide. Headquartered in New York City, the company has a diverse workforce of nearly 162,700 and generated nearly $132 billion in 2015 revenues.

The Goodwin team advising Fleetmatics in this cross-border transaction was led by partners Kenneth Gordon, Joseph Theis (Technology) and James Matarese (Mergers + Acquisitions).

Gordon and Theis were also on the Goodwin team that represented Fleetmatics in its 2012 IPO.

For more information on the transaction, please view the joint press release.