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Verizon Communications has officially purchased fleet management provider Telogis for an undisclosed sum.

The telco giant has bought the Aliso Yiejo based firm in order to enhance its connected vehicle business, as it is seeking to add the best-in-class Software-as-a-Service (SaaS) technology and services in the connected vehicle and mobile enterprise management sectors.

Andrés Irlando, CEO of Verizon Telematics, said: “With a comprehensive enterprise product portfolio and partnerships with some of the world’s leading vehicle and equipment manufacturers, Telogis brings a world-class software platform and new distribution relationships to Verizon Telematics’ already expansive suite of connected vehicle solutions for consumers and enterprise customers.

“The combined strengths of our two companies’ unique assets better enable us to deliver best-in-class mobile enterprise management services to customers globally, while building scale and accelerating market share,” Irlando added. “I’m confident that the passion and talent of our collective employees will continue to drive revenue growth and product innovations to shape and lead the industry for years to come.”

David Cozzens, CEO of Telogis, said: “Verizon provides the brand equity, strength in the market, broad infrastructure and expansive global reach to take Telogis to the next level. This strategic acquisition positions our collective technologies and services uniquely in the market while also enabling Verizon Telematics’ industry-leading business to benefit from Telogis’ unmatched strength in the enterprise market, innovative Mobile Enterprise Management software platform and our strong OEM and ecosystem partnerships.”

The acquisition is subject to customary regulatory approvals and is likely to close in the second half of 2016.