Bridgestone Corporation announced that its subsidiary, Bridgestone Europe NV/SA, has entered into an agreement with TomTom to acquire TomTom Telematics, its digital fleet solutions business, for a cash consideration of €910 million. The transaction is anticipated to be completed latest in the second quarter of 2019, subject to regulatory approvals.
TomTom is the number one provider of digital fleet solutions in Europe, a marketplace with very diverse in legal, commercial and cultural requirements. Its digital fleet solutions business has successfully demonstrated its ability to operate in complex and demanding market environments and has continued to strengthen its potential to expand globally, Bridgestone says in a Press release.