by Editor News
Bridgestone Europe has finally acquired TomTom Telematics (Telematics) for €910 million. The tyre manufacturer states that after passing through all the regulatory stages, the deal had full approval from the shareholders of TomTom, and received a positive response from TomTom’s works council. This acquisition was first announced in January, and the final acquisition has been done now.
Telematics will work as a standalone business within Bridgestone Europe. The company will be enjoying the advantage of the strong brand equity of Bridgestone. Along with this Telematics will also have a large customer base, retail network and the global reach of Bridgestone states the company. The management team of the company, however, will remain the same as per the deal and will draw on Bridgestone's investments and capacities to quicken the present development designs in Europe and different areas around the globe where Telematics is available. Its aim is to consolidate a worldwide leadership position in fleet management services and remain the undisputed number one in Europe.
Paolo Ferrari, CEO and president of Bridgestone EMEA, executive vice president of Bridgestone Corporation commented on this by saying, “The closing of this transaction is a significant milestone on Bridgestone’s transformation journey from tyre producer to mobility solutions leader.” He further added, “With demand for fleet-based mobility growing year-on-year, fleet managers need more than ever before a reliable and innovative partner to help them maximize their effectiveness and efficiency through increased productivity and minimised total cost of ownership. Now, together, Bridgestone and TomTom Telematics have the tools, insights and experience to fulfil those demands. We are marking the creation of a fleet solutions powerhouse that will lead our industry into the future of mobility.”
“We’re delighted that Bridgestone recognizes the talent and skills in TomTom Telematics, and intends to grow the business to its full potential. I’d like to wish all our colleagues in Telematics a successful future with Bridgestone,” was said by Harold Goddijn, CEO of TomTom.
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