Brussels – Bridgestone Europe NV/SA has completed the €910-million acquisition of Amsterdam-based TomTom Telematics (Telematics), the tire maker announced 1 April.
Telematics will operate as a standalone business while leveraging the customer base, global reach and retail network of Bridgestone.
The management team has remained unchanged within the Dutch digital fleet solutions provider, the statement added.
Post-acquisition, Telematics will be tap into Bridgestone’s investments and capabilities to accelerate its growth plans in Europe and other regions.
Bridgestone described the acquired business as a ‘strategic fit’ that would reinforce its footprint in mobility solutions and bring efficiencies to its fleet operations.
The acquisition is part of a “transformation from tire producer to mobility solutions leader,” said Paolo Ferrari, CEO and president of Bridgestone EMEA.
The move, he added, provides the “tools, insights and experience” to offer hep fleet managers maximise their effectiveness and efficiency.
“We are marking the creation of a fleet solutions powerhouse that will lead our industry into the future of mobility,” Ferrari further claimed.