Bridgestone Americas announced that it has competed the acquisition of Azuga Holdings, Inc. and the Azuga fleet management platform from Sumeru Equity Partners, Danlaw, Inc., and other shareholders. The acquisition is valued at $391 million and accelerates Bridgestone’s effort to deploy a comprehensive fleet management solution as a central pillar of its advanced mobility strategy, Bridgestone said.
The Azuga platform features GPS tracking, video telematics, driver behavior management and accident reduction solutions for insurers. It also reduced fuel consumption and decreases wear and tear on vehicles, Bridgestone said. Azuga currently supports more than 6,000 customers in the U.S. and Canada in the commercial tracking and insurance industries, as well as the public sector.
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, the company said.
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, California, 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, Bridgstone said.
