(Image source: Azuga.)
Bridgestone Americas (Nashville, Tenn.) has completed the acquisition of Azuga Holdings, Inc. (San Jose, Calif.) and the Azuga fleet management platform from Sumeru Equity Partners (San Mateo, Calif.), Danlaw, Inc. (Novi, Mich.) and other shareholders. Bridgestone characterizes the acquisition, valued at $391 million, as accelerating the company’s efforts to develop and deploy a comprehensive fleet management solution as a central pillar of its advanced mobility strategy. Bridgestone first announced the acquisition in August.
The Azuga platform features GPS tracking, video telematics, driver behavior management and accident reduction solutions for insurers designed to improve business performance, reduce fuel consumption and decreasee 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, according to Bridgestone’s announcement on the completion of its acquisition of the company.
“The completion of this acquisition is a significant milestone on our journey to build a more diverse, digital and future-focused Bridgestone,” comments 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.”
Robust Data Capture Capabilities
Bridgestone says the Azuga fleet management platform complements its existing portfolio of cloud-based fleet mobility solutions. The company says it 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, the company reports. Azuga will remain headquartered in Fremont, California, which Bridgestone says will strengthen its Silicon Valley presence.