Bridgestone Americas announced it has completed the acquisition of Azuga Holdings Inc. 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, the company says.
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 company says.
“The completion of this acquisition is a significant milestone on our journey to build a more diverse, digital and future-focused Bridgestone,” says Paolo Ferrari, president and 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, Calif., 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.
