Mexican Media Brands
TomTom Sells Telematics Unit to Bridgestone
Location services provider TomTom International BV has agreed to sell its telematic fleet management operations to tiremaker Bridgestone Corp.’s European unit for €910 million ($1 billion).
Share
Location services provider TomTom International BV has agreed to sell its telematic fleet management operations to tiremaker Bridgestone Corp.’s European unit for €910 million ($1 billion).
TomTom Telematics, which offers vehicle tracking and operational data for fleets and connected-car services, has generated about 18% of TomTom’s sales. The business says it processes data for 49,000 customers with more than 861,000 vehicles.
TomTom has been considering shedding its Telematics unit since September. The company says it will distribute €750 million of the proceeds to shareholders. The balance will be held for “bolt-on” acquisitions and to fund the company’s mapping and location technologies.
TomTom expects the sale to clear regulatory hurdles and be finalized by June.
RELATED CONTENT
-
Cobots: 14 Things You Need to Know
What jobs do cobots do well? How is a cobot programmed? What’s the ROI? We asked these questions and more to four of the leading suppliers of cobots.
-
Ford Copies Nature
As Nature (yes, capital N Nature) has done a pretty good job of designing things, it is somewhat surprising that Man (ditto) doesn’t follow Nature’s lead more often when it comes to designing objects.
-
On Fuel Cells, Battery Enclosures, and Lucid Air
A skateboard for fuel cells, building a better battery enclosure, what ADAS does, a big engine for boats, the curious case of lean production, what drivers think, and why Lucid is remarkable
