Tuesday, June 21, 2016

Telogis Acquired By Verizon

Aliso Viejo-based Telogis, which develops connected vehicle software, has been acquired by Verizon, Verizon announced on Tuesday afternoon, saying it would become part of Verizon Telematics. Financial terms of the acquisition were not announced. Verizon said the buy would bring a "world-class" software platform and new distribution relationships to its telematics efforts. Telogis was advised by J.P. Morgan and Paul Hasting LLP in the deal, with Verizon advised by PJT Partners and Wells Fargo Securities and Debevoise & Plimpton. Telogis was privately held, and was backed by Fontinalis Partners and Kleiner Perkins Caufield and Byers. The company appears to have raised around $160M in funding since it first was found in 2009.