Bridgestone Corporation to expand mobility solutions business, announced that Bridgestone Americas and Sumeru Equity Partners agreed to acquire Azuga Holdings, Inc for around $391 million. Silicon Valley based Azuga is a leading fleet management software provider.
- The acquisition will accelerate Bridgestone’s efforts to develop and deploy sustainable mobility solutions as a central pillar of the company’s advanced mobility strategy.
- 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.
- Bridgestone will leverage Azuga’s robust fleet data capture platform to advance the development of Bridgestone core tire products and AI solutions.
The prominent acquisitions and expansions by Bridgestone are mention below:
June 2021: For the development of self-driving technology, Bridgestone Americas (Bridgestone) has made a minority investment in U.S based Kodiak Robotics. As per deal, both Kodiak and Bridgestone will be able to link vehicle-based and smart-sensing tire technologies to improve vehicle safety, fleet efficiency, and the next generation of autonomous trucking solutions.
March 2021: In order to expand in the USA, Bridgestone Americas subsidiary Bridgestone Retail Operations (BSRO) announced that it will open 58 new stores in 2021. BSRO operates under the brand names of Firestone Complete Auto Care, Tires Plus, Hibdon Tires Plus, and Wheel Works across the USA.
June 2020: Bridgestone Corporation had announced the completion of acquisition of iTrack Solutions Business from UK-based Transense Technologies PLC. iTrack offers a comprehensive tire pressure monitoring system (TPMS) specially designed for mining tires.
June 2020: Japan Airlines (JAL) and Bridgestone Corporation announced that they are utilizing tire wear prediction technologies to help realize greater accuracy in aircraft tire management and maintenance plans. This collaboration involves J-AIR, which operates regional routes for the JAL Group out of Osaka International Airport in Japan.
May 2020: Bridgestone, had announced the acquisition of German specialist tyre trade group, REIFF Reifen und Autotechnik GmbH. Under the brand labels Reiff, Netto and ABS, REIFF Reifen und Autotechnik GmbH runs a leading network of 42 retail stores in the south of Germany, as well as a tyre retreading plant, all of which are part of the acquisition deal.
November 2019: Bridgestone Corporation announced the opening of Bridgestone Cross Point (BXP) at Museum Tower Kyobashi in Tokyo. BXP is designed to foster open collaboration among Bridgestone, its customers and its partners to help drive innovation, design and brand projects that will deliver advanced, sustainable solutions for a world in motion.
Tokyo based Bridgestone Corporation, is the worlds largest tire and rubber manufacturing company. The company also manufactures a broad range of diversified products, which include industrial rubber and chemical products and sporting goods. The company has given employments to approximately 143,589 people and its products are sold in more than 150 nations and territories around the world.