Bridgestone Americas has agreed to purchase California-based Azuga Holdings for USD 391 million, with the plan of delivering more sustainable tyre-centric, mobility solutions that improve fleet efficiency, safety, vehicle uptime and customer service.
Bridgestone Bolsters Its Plans for Greater Mobility Solutions with Azuga Acquisition
Bridgestone and Sumeru Equity Partners, Danlaw. Inc, and other shareholders have reached an agreement for Bridgestone to purchase Azuga Holdings, as well as the Azuga fleet management platform for USD 391 million, with the deal likely to be concluded by the end of 2021’s third quarter.
With Azuga headquartered in Fremont, California, this move will strengthen Bridgestone’s Silicon Valley presence, as well as Bridgestone’s efforts to develop and deploy sustainable mobility solutions as part of its advanced mobility strategy.
Once the regulatory approvals are made 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 Azuga acquisition will also 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 also leverage Azuga’s robust fleet data capture platform to advance the development of Bridgestone core tyre products and AI solutions.
Azuga Noted for Its Advanced Sustainable Solutions for U.S. Fleets
Heartily ringing in the acquisition Paolo Ferrari, Global Chief Solutions Business Officer, Bridgestone Corporation, and President and CEO, Bridgestone Americas said of the move: “Azuga is revolutionising the way that fleets do business in the U.S. with class-leading software and a rapid innovation process that will further advance Bridgestone’s vision to be a sustainable solutions company. “We are working toward providing the most sustainable and intelligent solutions for safer and more efficient mobility, and Azuga will help us accelerate their development and deployment to our customers.”
Azuga was founded in 2012, Azuga as a technology company that pioneered a sophisticated fleet management platform with GPS tracking, video telematics, driver behaviour management and accident reduction solutions for insurers. These solutions have offered good value for fleets and insurers through improved safety on the road, as well as reduced fuel consumption and wear and tear on vehicles. With more than 6,000 fleet business customers in North America, Azuga provides support to organizations across a range of industries including commercial fleets, insurance companies and government agencies. After the acquisition, Azuga will maintain its Silicon Valley headquarters, with all Azuga employees and facilities across the U.S. and India joining the Bridgestone team upon completion of the transaction.
Ananth Rani, CEO of Azuga Holdings, Inc said of the acquisition, “Bridgestone’s focus on building a more sustainable future through different mobility technologies is well aligned with the mission of Azuga. Together, our teams will continue the momentum we’ve already created, and accelerate our path toward providing the most advanced mobility solutions for our customers and society.”