Bridgestone Europe buys TomTom Telematics for €910mn as tyre giant transforms into mobility solutions partner
Harold Goddijn of TomTom
The self-proclaimed world’s largest tyre and rubber company has completed the acquisition for €910 million of TomTom Telematics, a provider of digital fleet solutions in Europe.
First reported on January 22nd, 2019, the acquisition by Bridgestone Europe NV/SA, a subsidiary of Bridgestone Corporation in EMEA, has now passed the relevant regulatory stages, been approved by TomTom’s shareholders, and received a positive response from TomTom’s works council.
The acquisition builds on previous work at Bridgestone to strengthen its digital capabilities. TomTom Telematics, said to be the number one in Europe in a double-digit growth industry, reportedly fits Bridgestone strategically and gives it a reinforced footprint in mobility solutions that make fleet operations more effective and efficient.
TomTom 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 TomTom Telematics is present.
The company’s ambition is reportedly to remain the number one in Europe and consolidate a global leadership position in fleet management services. Bringing together both companies’ offerings will provide new, profitable opportunities and bring value to customers. 
Paolo Ferrari, CEO and president of Bridgestone EMEA, executive vice president of Bridgestone Corporation, says: “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,” Ferrari adds.
“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, CEO TomTom, adds: “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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