Bridgestone Europe completes TomTom Telematics buy
Bridgestone Europe has completed the acquisition of TomTom Telematics for EUR910m.
First announced on 22 January, the deal has since gained regulatory, shareholder, and works council approval. Bridgestone said the buy would strengthen its digital abilities.
It claims TomTom Telematics is the European leader in a double-digit growth industry and is a good fit strategically in a sector that makes fleet operations more effective and efficient.
Telematics will operate as a stand-alone business taking advantage of Bridgestone's strong brand, large customer base, global reach and retail network.
The management team remains unchanged and will draw on Bridgestone's investments and capabilities to accelerate current growth plans in Europe and other parts of the world where Telematics is present.