Targa Telematics has successfully closed its deal for 100% share capital of Viasat Group.

Nicola De Mattia – CEO at Targa Telematics

The acquisition, announced at the start of the year, has now gained approval from the Antitrust Authority in Italy and in Spain and authorisation by Golden Power in Italy.

Targa specialises in the development of Internet of Things solutions and digital platforms for connected mobility and the deal creates a global leader in such services.

The agreement also grows Targa’s leadership in the Italian market and accelerates its expansion in Europe, bringing its technologies directly to the market to cater to projects at a continental level and beyond.

The combined company will be present in eight key European countries – Italy, Portugal, Spain, France, the UK, Belgium, Poland and Romania – and will also have a company in Chile as well.

Speaking at the announcement of the acquisition earlier this year, 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.”

Amongst 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.