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    5108   JP3830800003

BRIDGESTONE CORPORATION

(5108)
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BRIDGESTONE : COMPLETES ACQUISITION OF AZUGA FLEET MANAGEMENT SOLUTIONS BUSINESS; First announced in August 2021, Bridgestone completes acquisition of Azuga Holdings.

09/08/2021 | 11:44am EDT

Highlights:

* 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.

Paolo Ferrari

Global Chief Solutions Business Officer, Bridgestone Corporation, and President and CEO, Bridgestone Americas

Click to Tweet

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.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 3 345 B 29 439 M 29 439 M
Net income 2021 323 B 2 843 M 2 843 M
Net cash 2021 189 B 1 659 M 1 659 M
P/E ratio 2021 11,0x
Yield 2021 3,33%
Capitalization 3 549 B 31 188 M 31 234 M
EV / Sales 2021 1,00x
EV / Sales 2022 0,94x
Nbr of Employees 138 036
Free-Float 79,6%
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Bridgestone Corporation Technical Analysis Chart | 5108 | JP3830800003 | MarketScreener
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 5 065,00 JPY
Average target price 5 275,00 JPY
Spread / Average Target 4,15%
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Managers and Directors
Shuichi Ishibashi Chief Executive Officer & Director
Akihiro Eto President, Chief Operating Officer & Director
Masaaki Tsuya Chairman
Masato Sakano Chief Technology Officer
Scott Trevor Davis Independent Outside Director
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