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Verizon Closes Hughes M2M Buy

NEW YORK -- Verizon Communications Inc. (NYSE, NASDAQ: VZ) today closed its previously announced acquisition of HUGHES Telematics Inc.(HTI), setting Verizon on a course to accelerate growth through the delivery of advanced automotive and fleet telematics and machine-to-machine services.

The addition of HTI will expand and accelerate Verizon Enterprise Solutions’ capabilities for automotive, transportation, health care, and other industries to uncover and launch new business opportunities, driven by safety improvements, consumer trends and increasingly connected lifestyles.

“Machine-to-machine services are beginning to play a vital role reshaping the business landscape and setting new consumer expectations about establishing valuable connections in their vehicles, their homes and the world around them,” said John Stratton, president of Verizon Enterprise Solutions. “This powerful combination will create a springboard for our clients to expand their business models and strengthen their customer relationships by creating new opportunities for connected services that address the increasingly sophisticated consumer and enterprise.”

Verizon Communications Inc. (NYSE: VZ)

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