Tuesday, 02 April 2019 10:21

Bridgestone acquires Tom Tom Telematics

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Tyre and rubber company Bridgestone Europe has completed the acquisition of digital fleet solutions company TomTom Telematics, for €910 million (A$1.4 billion).

First announced on 22 January, the acquisition has now passed the relevant regulatory stages and has full approval from TomTom’s shareholders.

Bridgestone says the acquisition builds on previous work to strengthen its digital capabilities, and Telematics, the number one in Europe in a double-digit growth industry, fits the company strategically and gives it a “reinforced footprint in mobility solutions that make fleet operations more effective and efficient”.

Tom Tom Telematics will 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. Its management team remains unchanged as a result of the deal and will draw on Bridgestone’s investments and capabilities to accelerate the current growth plans in Europe and other regions around the world where the company is present.

Paolo Ferrari, chief executive and president of Bridgestone EMEA, and executive vice-president of Bridgestone Corporation, said: “The closing of this transaction is a significant milestone on Bridgestone’s transformation journey from tyre producer to mobility solutions leader.

“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 maximise 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.”

Harold Goddijn, chief executive of TomTom, said: “We’re delighted that Bridgestone recognises 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.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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