Bridgestone to acquire TomTom telematics unit in $1.45bn deal

Bridgestone to acquire TomTom telematics unit in $1.45bn deal

Bridgestone has announced that its subsidiary Bridgestone Europe NV/SA, has entered into an agreement with TomTom to acquire TomTom Telematics, its digital fleet solutions business, for a cash consideration of €910 million ($1.45bn).

The transaction is anticipated to be completed latest in the 2nd quarter of 2019, subject to the satisfaction of customary closing conditions such as regulatory approvals.

TomTom’s digital fleet solution offers an industry leading data platform for connected vehicles enabling safer driving, improving productivity and optimising uptime for personal and commercial mobility.

According to Bridgestone, combining this digital fleet solution with its tyre expertise and global service network creates an opportunity that accelerates the company’s effort to become a key partner in the Mobility as a Service (MaaS) landscape with tyre products, services and solutions offerings.