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
-
Global Supply of Automotive Fasteners from a Single Source
PennEngineering offers a global supply for a wide range of fasteners for the automotive industry, including China-based facilities that manufacture standard and custom products to world-class standards of quality at lower cost.
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems
-
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)
