Targa Telematics has signed an agreement to acquire 100% share capital of Viasat Group Spa, creating a global leader in the Internet of Things and smart mobility.

Nicola De Mattia – CEO at Targa Telematics

Viasat is a specialist in IoT solutions and telematics systems for vehicles and goods, and the deal will expand Targa’s range of technologies and scope for an increasingly international focus.

The combined group will operate in the field of IoT while also developing solutions and digital services for connected mobility.

The agreement will also grow Targa’s leadership in the Italian and European markets. The business will be present in eight key European countries: Italy, Portugal, Spain, France, the UK, Belgium, Poland, and Romania, as well as in Chile in South America. This will enable Targa to draw on 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.

Nicola De Mattia – CEO at Targa Telematics, said: “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.”

He added: “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 deal is expected to complete in the first half of the year, subject to customary closing conditions. This includes authorisation by Golden Power in Italy and in Spain and the approval from the Antitrust Authority.