The largest tire manufacturer in the world, Bridgestone Corporation has announced its plan to acquire TomTom Telematics. Bridgestone will be finalizing the deal through its subsidiary, Bridgestone Europe NV/SA. TomTom Telematics is TomTom’s digital fleet solutions business and Bridgestone will be acquiring the business for a cash amount of 910 million euros. It is expected that the deal will be finalized in the second quarter of 2019, subject to approval by regulatory authorities.
TomTom is the top provider of digital fleet solutions in Europe, and TomTom Telematics has demonstrated high levels of capability to operate in Europe, a market that is known for its diversity in terms of legal, commercial and cultural requirements. It has successfully dealt with complex and demanding market conditions and has a high potential to expand globally.
TomTom’s digital fleet solution comprises an industry leading data platform that can be used for connected vehicles with the outcomes being safer driving, higher productivity and optimal uptime for both personal and commercial mobility. Bridgestone is hoping that when this digital fleet solution is used in tandem with the company’s own expertise in the field of tires and its global service network, it will gain access to an opportunity that will help drive further the company’s goal of becoming a market leader in the Mobility as a Service (MaaS) scenario with its portfolio of leading tire products, services and solutions offerings.
This acquisition will not only reinforce Bridgestone’s broad and leading portfolio, but will also reinforce its position as an innovative leader in the field of tire design, and tire predictive maintenance service. Through the use of the telematics data, Bridgestone can gain unprecedented access to insights regarding vehicle and tire operating conditions and will be able to leverage a growing installed user base of 860,000 vehicles communicating 200 million data points per day.
Manju Mathew, an MBA in marketing, completed publisher training courses from the Oxford Brookes University and New York University. She started with marketing and PR roles before moving on to her current position as a full time writer. Currently living in Dubai, her life as an expat has sharpened her observation skills and flair for writing. She enjoys writing about luxury cars like Ferrari, Lamborghini, etc even if she can only dream of owning them.
Your email address will not be published. Required fields are marked *
© 2017 Morjan Media LLC. All Rights Reserved.