* Acquisition accelerates company's development of comprehensive tire-centric and mobility solutions that improve fleet safety, performance and sustainability.
* More than 400 Azuga employees based in the U.S. and India are now part of the Bridgestone Mobility Solutions team.
Bridgestone Americas (Bridgestone) today announced it has completed the acquisition of Azuga Holdings, Inc. (Azuga) and the Azuga fleet management platform from Sumeru Equity Partners, Danlaw, Inc. and other shareholders. The acquisition, valued at $391 million, accelerates Bridgestone's efforts to develop and deploy a comprehensive fleet management solution as a central pillar of the company's advanced mobility strategy.
Featuring GPS tracking, video telematics, driver behavior management and accident reduction solutions for insurers, the Azuga platform improves business performance, reduces fuel consumption and decreases wear and tear on vehicles. Azuga currently supports more than 6,000 customers in the U.S. and Canada in the commercial trucking and insurance industries, as well as the public sector.
'The completion of this acquisition is a significant milestone on our journey to build a more diverse, digital and future-focused Bridgestone,' said Paolo Ferrari, president & CEO, Bridgestone Americas, and Global Chief Solutions Business Officer, Bridgestone Corporation. 'With Azuga in our portfolio, we will be able to scale our mobility solutions with speed to drive increased safety, sustainability and efficiency for fleet customers.'
The Azuga fleet management platform complements Bridgestone's existing portfolio of cloud-based fleet mobility solutions. Bridgestone will leverage Azuga's robust data capture capabilities to advance the development of its core tire products and sustainable mobility solutions.
More than 400 Azuga employees and all Azuga facilities in the U.S. and India have successfully transitioned to Bridgestone. Azuga will remain headquartered in Fremont, California, strengthening Bridgestone's Silicon Valley presence.
The successful acquisition of Azuga is Bridgestone's latest milestone in achieving its vision of becoming a sustainable solutions company, building upon its recently announced investment in electrified and autonomous freight leader Einride and its partnership with autonomous long-haul trucking company Kodiak Robotics.
With Azuga in our portfolio, we will be able to scale our mobility solutions with speed to drive increased safety, sustainability and efficiency for fleet customers.
Global Chief Solutions Business Officer, Bridgestone Corporation, and President and CEO, Bridgestone Americas
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About Bridgestone Americas, Inc.:
Bridgestone Americas, Inc. is the U.S.-based subsidiary of Bridgestone Corporation, a global leader in tires and rubber, building on its expertise to provide solutions for safe and sustainable mobility. Headquartered in Nashville, Tenn., Bridgestone Americas employs more than 50,000 people across its worldwide operations. Bridgestone offers a diverse product portfolio of premium tires and advanced solutions backed by innovative technologies, improving the way people around the world move, live, work and play.