Bridgestone Agrees to Purchase Azuga Holdings From Sumeru Equity Partners, Danlaw and Other Shareholders
Bridgestone Americas has agreed to purchase fleet tracking software company Azuga for $391 million. Pending regulatory approval, the deal brings all of Azuga’s products, facilities in the U.S. and India, and employees into Bridgestone’s mobility solutions division.
The company’s co-founder and CEO, Ananth Rani, will also join Bridgestone. Rani, who has been a vehicle tracking pioneer since his days at the helm of Xora, co-founded founded Fremont, Calif.-based Azuga in 2012.
The acquisition of Azuga, which builds upon Bridgestone’s recently announced investment in autonomous long-haul trucking company Kodiak Robotics, includes the company’s flagship fleet management platform, which leverages data capture with GPS, video telematics, driver behavior management and accident reduction products. Bridgestone said the acquisition will promote the company’s increased marketing to small and enterprise-sized fleets.
Key Takeaways:
- Bridgestone is no stranger to the fleet tracking market, having purchased TomTom’s telematics unit in 2019 for an estimated $1 billion.
- Azuga has more than 6,000 fleet customers in North America.
