TechTaffy

tech:

taffy

Verizon acquires connected intelligence company Telogis

By TechTaffy Desk

Verizon has signed an agreement to purchase privately-held Telogis. The Aliso Viejo, California-based company provides connected intelligence and fleet management software.

The acquisition is subject to customary regulatory approvals and is expected to close in the second half of 2016. Terms of the transaction have not been disclosed.

PJT Partners and Wells Fargo Securities acted as financial advisors and Debevoise & Plimpton acted as legal advisor to Verizon. Barclays and J.P. Morgan acted as financial advisors and Paul Hastings acted as legal advisor to Telogis.

Telogis was established in 2001 and has offices in Europe, Australia and Latin America as well as development centers in Austin, Texas; Toronto; and Christchurch, New Zealand. The company’s products and services are used and distributed in more than 100 countries worldwide, according to a statement from Verizon.

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.