Verra Mobility partners with Verizon Connect to bring managed services to commercial fleets

Rhea-AI Summary

Verra Mobility (NASDAQ: VRRM) has announced a strategic partnership with Verizon Connect to provide managed services to commercial fleets. Through this collaboration, Verizon Connect customers will gain access to Verra Mobility's managed tolling, violations, and title and registration services via the Verizon Connect Marketplace.

Verra Mobility's fleet management services currently process over 300 million annual toll transactions for more than seven million vehicles globally. Their violation management services offer up to 80% cost savings in management and processing of vehicle violations.

The partnership combines Verizon Connect's GPS fleet tracking and telematics solutions, which provide real-time fleet operations visibility, with Verra Mobility's automated compliance services. This integration aims to streamline traditionally manual and expensive fleet management processes while reducing operational costs for customers.

Positive

• Strategic partnership with major fleet tracking provider Verizon Connect expands market reach
• Currently processes 300M+ annual toll transactions for 7M+ vehicles globally
• Offers significant cost savings of up to 80% in violation management
• Integration into Verizon Connect Marketplace provides direct access to large customer base

Negative

• None.

Verizon Connect customers will receive access to Verra Mobility's managed tolling, violations and title and registration services

MESA, Ariz., March 18, 2025 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today a partnership with Verizon Connect, one of the largest providers of advanced GPS fleet tracking solutions. Through the partnership, new and existing Verizon Connect customers will have easy and direct access to Verra Mobility's managed tolling, violations, and title and registration services through the Verizon Connect Marketplace.

Verizon Connect provides a near real-time, 360-degree view of a fleet's daily operations to help reduce costs, increase productivity, and increase efficiency.

Verra Mobility's fleet management services are utilized by major fleet owners, operators, and managers to conveniently and automatically pay over 300 million annual toll transactions for more than seven million vehicles globally. In addition, Verra Mobility's violation management services save fleets up to 80% in management and processing costs of vehicle violations.

"Tolling, violations, and title and registration are typically manual, expensive and confusing compliance processes, and Verra Mobility has a stellar industry reputation amongst fleet customers for delivering operationally efficient services and cost savings," said Kinnera Angadi, Chief Product and Technology Officer at Verizon Connect. "We are excited to partner with Verra Mobility to offer their highly complementary managed tolling, violations, and title and registration services to help solve these complex pain points and lower operating costs for our fleet customers. We look forward to partnering together to offer these best-in-class comprehensive service solutions to more fleets."

Verizon Connect utilizes connected vehicle software to optimize fleet operations, enhance safety and improve productivity through its telematics solutions. The company offers a suite of tools including fleet and equipment tracking software.

"Verizon Connect is an excellent partner and addition to our growing suite of fleet services," said Steve Lalla, Executive Vice President of Verra Mobility's Commercial Services business. "We are excited for the opportunity to support more fleets with our suite of services through this partnership and to be able to provide additional value to our current customers. Verizon Connect is a trusted, well-established, deeply resourced and scaled platform and a marketplace in which we are proud to be included."

For more information about Verra Mobility's fleet offerings, visit: www.verramobility.com/commercial.

About Verra Mobility

Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility's transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility operates in North America, Europe, Asia and Australia. For more information, please visit www.verramobility.com.

Forward Looking Statements

We describe many of the trends and other factors that drive our business and future results in this press release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes or anticipates will or may occur in the future. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties that can affect our performance in both the near-and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this press release can or will be achieved. These forward-looking statements should be considered in light of the information included in this press release, our Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.

Additional Information

We periodically provide information for investors on our corporate website, www.verramobility.com, and our investor relations website, ir.verramobility.com.

We intend to use our website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our website, in addition to following the Company's press releases, SEC filings and public conference calls and webcasts.

Media Relations:		Investor Relations:
Eric Krantz		Mark Zindler
eric.krantz@verramobility.com		mark.zindler@verramobility.com

 

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SOURCE Verra Mobility

FAQ

What services will Verra Mobility (VRRM) provide through the Verizon Connect partnership?

Verra Mobility will provide managed tolling, violations, and title and registration services through the Verizon Connect Marketplace.

How many toll transactions does Verra Mobility (VRRM) process annually?

Verra Mobility processes over 300 million annual toll transactions for more than 7 million vehicles globally.

What cost savings do fleets achieve using VRRM's violation management services?

Fleets can save up to 80% in management and processing costs of vehicle violations using Verra Mobility's services.

How will the VRRM-Verizon Connect partnership benefit fleet customers?

The partnership will streamline manual compliance processes, reduce operational costs, and provide easy access to automated fleet management services through Verizon Connect Marketplace.