Bridgestone Americas is securing Azuga Holdings and the Azuga fleet management platform for US$391 million. The acquisition is anticipated to accelerate Bridgestone’s efforts in sustainable mobility solutions as a key aspect of the company’s advanced mobility strategy. The transaction is expected to close by the end of the third quarter of this year.
Pending customary closing conditions and regulatory approvals, Bridgestone will assume ownership of Azuga’s brands and business platforms. The Azuga fleet management platform, which includes advanced safety and fleet management tools, will complement the existing Bridgestone portfolio of cloud-based fleet mobility solutions. The acquisition of Azuga will rapidly advance Bridgestone’s comprehensive solutions for small to enterprise-sized fleets, providing real-time vehicle operations insights and data analytics that will improve safety, increase efficiency and enhance customer service experiences. Bridgestone will leverage Azuga’s robust fleet data capture platform to advance the development of Bridgestone core tire products and AI solutions.
Paolo Ferrari, Global Chief Solutions Business Officer at Bridgestone Corporation, and President and CEO, at Bridgestone America said, “ Azuga is revolutionising the way that fleets do business in the US with class-leading software and a rapid innovation process that will further advance Bridgestone’s vision to be a sustainable solutions company.”
Founded in 2012, Azuga is a technology company that has developed a sophisticated fleet management platform with GPS tracking, video telematics, driver behavior management and accident reduction solutions for insurers. These solutions create value for fleets and insurers through improved safety on the road, as well as reduced fuel consumption and wear and tear on vehicles. Azuga will maintain its headquarters in Silicon Valley. All Azuga employees and facilities across the US and India will join Bridgestone upon completion of the transaction.