Bridgestone’s €910m (£793m) proposed purchase of TomTom Telematics (TTT) will create a commercial vehicle fleet powerhouse, according to the tyre manufacturer. The deal will bring together “the world’s largest tyre company with the number one provider of digital fleet solutions in Europe”, said Bridgestone.
Bridgestone said the purchase of TTT would grant access to the biggest European data platform of cars and trucks available, strengthening its offering, especially in virtual development and testing, as well as predictive modelling and connected tyres.
TTT makes WebFleet and NextFleet and has a user base of 50,000 customers across 860,000 vehicles, two thirds of which are commercial fleet.
Paolo Ferrari, CEO and president of Bridgestone EMEA, said: “We have found our perfect match in TomTom Telematics. Beyond scale, there would be considerable benefits by complementing our offerings, allowing us, among many other opportunities, to sell tyres and solutions across our customers.
“We recognise and respect the talent and skill of the TTT management team and its 670 employees. It’s our intention to foster and expand the business and support its plans.”
The deal is subject to regulatory approval but is expected to be completed in the spring.