Anyone heard if Verizon Connect is to be sold off?
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What if… stay with me now… if they spun off Verizon Connect into an independent company and called it TELOGIS?
I can confirm that the future of connect is only in N America. There are plans ongoing to piece out connect globally.
Connect is profitable and has switched focus to US, as the most profitable region. It isn't core to Verizon, so it is expected to be sold off for a large chunk of change in the near future. Unlike the rest of Verizon, their development processes lead the industry. It is just a shame that the rest of Verizon are unable to catch up. They have some very talented people working for them and work with some of the newest technologies. As for the no money in auto, that is pure rubbish. There are a number of other companies in the space and all are making good revenues. So I would say that the comment is just sour grapes from another envious but failing area of Verizon.
All the talented people have left Connect. Only people left are DEI hires and those who are waiting for a severance package.
Rumor has it that they are keeping NA market for now, selling off the rest of the world.
That has always been the plan. The business is currently so unprofitable that nobody would buy it. They are laying off people and outsourcing everything to prepare for an eventual fire sale. Get those resumes ready.
Yes, all things auto to be sold off. NO money in auto.