Targa Telematics further strengthens its leadership in the Italian and European market, expanding the offer of innovative technologies in projects with an increasingly international reach. Nicola De Mattia (CEO of Targa Telematics) commented: "The operation allows the group to make an important leap in terms of size and international presence."
Targa Telematics Spa - a technology company specializing in the development of IoT solutions and digital platforms for connected mobility - signs a binding agreement to acquire 100% of the share capital of Viasat Group Spa ("Viasat Group").
The acquisition process, expected to be completed during the first half of 2023, is underway and will comply with the regulations and due authorizations of Golden Power (in Italy and Spain) and the Competition Authority.
Viasat Group Spa is one of Europe's leading companies in providing satellite telematics and IoT services and solutions for the safety and security of people, vehicles and goods and represents Italian technological know-how applied to the automotive sector.
This transaction kicks off a new European leadership and originates one of the major global players in the IoT and connected mobility sector: Targa Telematics Spa, with presence in Italy, Portugal, Spain, France, England, Belgium, Poland, Romania and Chile.
With the acquisition of Viasat Group Spa Targa Telematics - an Italian company working internationally with offices in Spain, France, England and Portugal - will strengthen its capacity to develop technological solutions for increasingly global projects, accelerating the expansion of its business in the different countries where it is already implemented.
As an integral part of the global scale projects will be the responsiveness and proximity support, which Targa Telematics will have with multinational groups active in the mobility sector, as well as other market sectors.
"We are very excited to welcome Viasat Group - an example of virtuous entrepreneurship - into Targa Telematics, allowing us to grow in size, international presence and market segments. These are undoubtedly crucial elements to continue to strengthen our competitive positioning and to offer customers an unprecedented range of services in the field of intelligent mobility for increasingly international projects," says Nicola De Mattia, CEO of Targa Telematics. "This is the first operation of significant dimensions carried out by operators in our sector of activity and aims to consolidate our presence in the market. The strong coordination between the teams and the synergies that will be created in terms of skills and cutting-edge technologies will allow us to reaffirm, once again, our role as key players in the development of mobility in the future," Nicola De Mattia further emphasises.
"This transaction with Targa Telematics, an innovative and industry-leading technology company, is an important recognition of the value established over time and the growth prospects of Viasat Group," says Domenico Petrone, President and CEO of Viasat Group Spa. "The partnership with Targa Telematics is the best strategy to open new and wide horizons both for the business and for the professionals, who guide their work with high professionalism. Not part of this acquisition are the areas of electronic planning and production, as well as the development of hardware and software directed to Waste Management."