Nashville, Tennessee – Bridgestone Americas is acquiring US-based fleet management platform, Azuga Holdings for $391 million (€330 million), it was announced 2 Aug.
Bridgestone expects the acquisition to accelerate its efforts in developing and deploying sustainable mobility solutions, which is central to its advanced mobility strategy.
The transaction has been approved by each company's board of directors and is expected to close by the end of the third quarter, Bridgestone said in a statement.
The Azuga fleet management platform includes advanced safety and fleet management tools, wchih Bridgestone said complement its s existing portfolio of cloud-based fleet mobility solutions.
Founded in 2012, Azuga’s technology includes GPS tracking, video telematics, driver behaviour management and accident reduction solutions for insurers.
Based in Silicon Valley and with operations in India, Azuga currently has more than 6,000 fleet business customers in North America.
“The acquisition of Azuga will rapidly advance Bridgestone's comprehensive solutions for small to enterprise-sized fleets, providing real-time vehicle operations insights and data analytics,” said the tire maker.
The access to data, Bridgestone said, will improve safety, increase efficiency and enhance customer service experiences.
Furthermore, Bridgestone expects to use Azuga's fleet data to advance the development of its tire products and artificial intelligence solutions.
"Azuga is revolutionising the way that fleets do business in the US with class-leading software and a rapid innovation process," said Paolo Ferrari, global chief solutions business officer, Bridgestone Corp., and president and CEO, Bridgestone Americas.
"We are working toward providing the most sustainable and intelligent solutions for safer and more efficient mobility," he said, "and Azuga will help us accelerate their development and deployment to our customers."