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Verizon (NYSE:VZ) agrees to acquire Hughes Telematics (OTC:HUTC) for $612M, or $12/share in...

Jun. 01, 2012 8:26 AM ETVerizon Communications Inc. (VZ) StockVZ, HUTCBy: Carl Surran, SA News Editor
Verizon (NYSE:VZ) agrees to acquire Hughes Telematics (OTC:HUTC) for $612M, or $12/share in cash. VZ says the deal would expand its capabilities in the automotive and fleet telematics marketplace and accelerate growth in key vertical segments, including emerging machine-to-machine services applications. HUTC +7.8%, VZ -1.4% premarket.

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