Following a recent round of excellent, and potentially not so great for residential clients, Verizon intends to show just a little like to its enterprise clients. Large Red-colored is going to spend $612 million of their spare pocket switch to buy Hughes Telematics, a business that mainly works inside the arena of automotive communications. The board-approved purchase ought to be ended by Q3 of the year and Hughes' management team will stay intact. The premium offer by Verizon calculates to $12 per share for any stock which was buying and selling just $4.35 by yesterday's closing bell. Facebook traders: eat your hearts out.
Verizon to purchase Hughes Telematics for $612 million in cash initially made an appearance on Engadget on Comes to an end, 01 Jun 2012 16:01:00 EDT. Please visit our terms to be used of feeds.
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