Bridgestone’s acquisition of TomTom has increased its offering to include telematics services. Having started life as a tyre producer, it is well on its way to becoming a full fleet solutions provider.
With technology seemingly having an ever growing impact on all aspects of life, even the most traditional businesses must adopt this change to remain competitive in the market. Bridgestone’s diversification to services is another in a trend we see in our clients as organisations turn to acquisitions to embrace the digital revolution!
To that extent, might €910m look like a steal in years to come?
Bridgestone Europe has completed the acquisition of TomTom Telematics for €910 million after passing the relevant regulatory stages, receiving full approval from TomTom’s shareholders, and a positive response from TomTom’s works council. The acquisition, first announced in January, builds on previous work at Bridgestone to strengthen its digital capabilities. The telematics business will now operate within Bridgestone as a standalone business, while taking advantage of the strong brand equity, large customer base, global reach and retail network of Bridgestone, it said.