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
-
Things to Know About Cam Grinding
By James Gaffney, Product Engineer, Precision Grinding and Patrick D. Redington, Manager, Precision Grinding Business Unit, Norton Company (Worcester, MA)
-
Multiple Choices for Light, High-Performance Chassis
How carbon fiber is utilized is as different as the vehicles on which it is used. From full carbon tubs to partial panels to welded steel tube sandwich structures, the only limitation is imagination.
-
On Automotive: An All Electric Edition
A look at electric vehicle-related developments, from new products to recycling old batteries.
