Posts tagged buying
People may be wondering what is leading automotive giant Ford to acquire ride-sharing shuttle service Chariot.
The app-based service is well suited to Ford’s mobility goals. It already uses Ford Transit Connect vans to shuttle people around the city and accelerates the company’s vision of a ride-sharing platform in major cities by 2021.
Chariot shuttles commuters from popular locations in San Francisco, and costs less than a taxi ride. Ford intends to expand Chariot’s service into “at least five additional markets in the next 18 months.”
Shuttle service is nothing new, a lot of tourists use a similar service when visiting New York, San Francisco, or Los Angeles. The difference with Chariot is real-time route monitoring and instant access, allowing people to hop into the van midway through the route.
Taking twelve commuters and stuffing them in a van is also a tactic Facebook, Google, and other Silicon Valley companies use to get their own staff to work on time. Unions in San Francisco have protested multiple times over shuttle service, due to long hours and low pay.
Ford also loses two wheels with GoBike
Ford also announced it is bringing GoBike, the company’s bike-sharing service, to the San Francisco Bay Area. It plans to have 7,000 bikes in SF by the end of 2018. Users will also be able to rent their bike on the FordPass platform, launching next year.
A few months ago, Ford didn’t seem to have any major plans for ride-sharing or autonomous cars. Now, it has a firm date for its first autonomous vehicle launch, 2021. It also has said it will launch a ride-sharing platform in most major cities by that time, of which we assume Chariot and GoBike will be a part.
It might not be close to Uber’s market penetration, but Ford has confirmed in the past month it is going to fight tooth and nail against the tech companies in the self-driving and ride-sharing business.
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Shortly after its massive deal for Yahoo!, telecommunications giant Verizon has acquired fleet management firm Fleetmatics for $2.4 billion, it announced on Monday. The purchase is aimed at bolstering Verizon’s push into the Internet of Things (IoT) market.
It comes just one week after the cellular giant’s $4.8 billion purchase—which could rise to over $6 billion when taken altogether—of Yahoo’s core business.
Fleetmatics is one of the largest providers of fleet management tools, which include location, fuel, and speed data on trucks. With this data, the firm says it can improve performance and safety of drivers in the fleet.
Negotiations between the two companies started in May. Verizon received confirmation from its board soon after and a deal was agreed two months later. That is quick for Verizon; the company usually spends a few months deliberating a deal before making a decision.
We don’t know what Verizon intends to do with Fleetmatics once the deal is complete. It could remain independent of the Verizon brand or join the IoT unit, which is growing at a faster rate than Fleetmatics.
Verizon adds to fleet management depth with deal
This is Verizon’s second fleet management acquisition in 2016. The first happened in June, when Verizon acquired Telogis for an undisclosed amount. Telogis provides fleet management solutions to AT&T and its partner General Motors, so the acquisition was seen as a way for Verizon to profit from AT&T’s IoT success.
The carrier’s IoT unit made over $500 million in 2015, but Verizon said in October 2015 that it was not satisfied with the speed of growth. Since then, the strategy has changed to give partners more access to its platform and let them work on implementation of applications.
This is similar to the way IBM or Amazon Web Services works. Instead of providing the entire platform, the ThingSpace cloud product gives developers and enterprise clients tools to build what they want.
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