Sumeru Equity Partners, Danlaw, Inc., and other stockholders sold Azuga Holdings, Inc. (Azuga) and the Azuga fleet management platform to Bridgestone. Bridgestone's efforts to build and deploy a complete fleet management system as a fundamental pillar of the company's advanced mobility strategy are accelerated by the $391 million acquisition.
The Azuga platform enhances business performance, reduces fuel consumption, and minimises vehicle wear and tear by providing GPS monitoring, video telematics, driver behaviour management, and accident reduction solutions for insurers. Azuga presently serves over 6,000 customers in the commercial trucking and insurance industries, as well as the public sector, throughout the United States and Canada.
"The completion of this acquisition is a significant milestone on our journey to build a more diverse, digital and future-focused Bridgestone," said 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."
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Bridgestone's existing line of cloud-based fleet mobility solutions will be supplemented by the Azuga fleet management platform. Bridgestone will use Azuga's powerful data-gathering capabilities to accelerate the development of its core tyre products and sustainable mobility solutions.
Bridgestone has transitioned over 400 Azuga personnel and all Azuga facilities in the United States and India. Azuga's headquarters will stay in Fremont, California, bolstering Bridgestone's Silicon Valley footprint.
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Bridgestone's acquisition of Azuga is the latest step toward realising its vision of becoming a sustainable solutions company, following its recent announcements of investments in Einride, an electrified and autonomous freight leader, and a partnership with Kodiak Robotics, an autonomous long-haul trucking company.
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