Targa Telematics further strengthens its leadership in the Italian and European market, expanding the range of innovative technologies for increasingly international projects.
Nicola De Mattia (CEO of Targa Telematics) commented: “The transaction allows the group to take an important step in terms of size and international presence”.
Targa Telematics Spa – a technology company specialising in the development of IoT solutions and digital platforms for connected mobility – has signed an agreement for the acquisition of 100% share capital of Viasat Group Spa (“Viasat Group”).
The operation, which aims to be processed by the first semester of 2023, will be subject to a number of pending ordinary conditions for similar transactions, amongst which the authorization by Golden Power (in Italy and in Spain) and the approval from the Antitrust Authority.
Viasat Group represents Italian excellency in the technology field applied to the automotive sector. Over the years, it has established itself as one of the European leaders in supplying satellite info-telematics and IoT services and solutions for the security and protection of people, vehicles and goods.
This operation will mark the creation of one of the main global players in the field of IoT and for the development of solutions and digital services for connected mobility. It will be present in eight key European countries: Italy, Portugal, Spain, France, the UK, Belgium, Poland, and Romania, on top of which a company in Chile as well.
Thanks to the acquisition of Viasat Group, Targa Telematics – Italian company already operating abroad with offices in the UK, Spain, France, and Portugal – will further strengthen its leadership in the Italian market, accelerating its expansion in Europe as well. It will be able to bring, from the start, a wide range of innovative technologies for global projects to the market.
In the context of these international projects, Targa Telematics will be able to leverage a strong dedicated local support in different countries to serve its clients at its best, which mostly include multinational groups active in the mobility field, as well as in other sectors of the market.
“We are enthusiastic to welcome such a prestigious company as Viasat Group – a virtuous entrepreneurial example – that allows us to take an important step in terms of size, international reach and to expand our presence to key areas of the market. These are crucial elements to continue to strengthen our competitive positioning and to offer our clients a wide range of services in the smart mobility field for increasingly international projects,” commented Nicola De Mattia – CEO at Targa Telematics. “This is the first operation of significant size completed by operators in our industry and aims towards a tangible market consolidation. The strong coordination between the teams and the synergy arising from the know-how and the latest technologies of both companies will allow us to consolidate once again our role as key players in developing the mobility of the future”.
“This operation with Targa Telematics, an innovative tech-company and leader in the field, is an important acknowledgment of the value established over time and the growth perspectives of Viasat Group”, added Domenico Petrone, President and CEO at Viasat Group Spa. “The partnership with Targa Telematics is the best strategy to open new and wider horizons both for the company business and for the people operating in it with great professionality. The electronic planning and production, as well as hardware and software development linked to Waste Management are not part of the acquisition”.