In Bridgestone news, Bridgestone Americas has agreed to purchase Azuga Holdings from its owners, Sumeru Equity Partners, Danlaw, Inc, and other shareholders for $391 million. This purchase is part of Bridgestone’s goal to create sustainable mobility solutions, and will close by the end of the third quarter. Azuga’s fleet management platform, including its advanced safety and fleet management tools, will enter Bridgestone’s inventory of cloud-based fleet mobility solutions. Azuga will help Bridgestone advance its goals of improving safety, increasing efficiency, and enhancing customer service for fleets of all sizes.
Paolo Ferrari, Global Chief Solutions Business Officer of Bridgestone Corporation, and President and CEO of Bridgestone Americas, says of the acquisition:
“Azuga is revolutionizing 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.”
Ananth Rani, CEO of Auga Holdings, Inc., adds:
“Bridgestone’s focus on building a more sustainable future through 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.”
This acquisition will benefit both parties furthering their mission of improving sustainable fleet mobility for years to come. PJT Partners is serving as financial advisor to Bridgestone, and Hogan Lovells is serving as legal counsel. Barclays is serving as financial advisor to Azuga, and Gibson Dunn is serving as legal counsel.
About Bridgestone Americas, Inc.
Bridgestone Americas, Inc. is a Nashville, Tennessee-based subsidiary of Bridgestone Corporation, a global leader in sustainable mobility and advanced solutions. Bridgestone Americas manages a diverse portfolio of original equipment and replacement tires, tire-centric solutions, mobility solutions, and other rubber-related products. Their global corporate social responsibility commitment, Our Way to Serve, Bridgestone commits itself to delivering a sustainable future of mobility.
Azuga was founded in 2012 to continuously improve safety and efficiency for fleets. It is a leading global connected vehicle platform, where customers turn data from vehicles and drivers into intelligence that improves operations and safety. Azuga offers end-to-end solutions for fleets of all kinds, including commercial fleets, government agencies, insurance companies, and automotive industry supplies. Azuga’s Fleet solution is installed in over 6,000 commercial fleets of all sizes. Azuga is headquartered in Fremont, California, with offices all over the world.