Bridgestone has said its €910m (£793m) proposed purchase of Tom Tom’s telematics business will create a commercial vehicle fleet powerhouse.
The deal will bring together, in Bridgestone’s own words, “the world’s largest tyre company with the number one provider of digital fleet solutions in Europe”.
Bridgestone added that the purchase of Tom Tom Telematics (TTT) would grant access to the biggest European data platform of cars and trucks available, strengthening its offer especially in regards virtual development and testing, as well as predictive modelling and connected tyres.
TTT makes WebFleet and NextFleet and has a user base of 50,000 customers across 860,000 vehicles, which two thirds of are commercial fleet.
Read more
- Bridgestone invests in improving standards for UK tyre technicians
- Bridgestone wins three-year Greggs deal
- Arla Foods extends Bridgestone contract to until 2020
Paolo Ferrari, CEO and president of Bridgestone EMEA, said: “We have found our perfect match in TomTom Telematics.
“Beyond scale, there would be considerable benefits by complementing our offerings, allowing us, among many other opportunities, to sell tyres and solutions across our customers.
“We recognise and respect the talent and skill of TomTom Telematics’ management team and its 670 employees. It’s our intention to foster and grow the business and support its current plans,” he said.
The deal is subject to regulatory approval but is expected to complete in the spring.
