Bridgestone Americas is acquiring Azuga Holdings Inc., a fleet management software provider, for $391 million to improve fleet safety at the replacement tire maker.
Azuga has developed a fleet management platform with GPS tracking and accident reduction services to improve road safety and reduce fuel consumption and vehicle wear and tear.
Bridgestone Corp. plans to leverage Azuga’s robust fleet data capture platform to advance the development of Bridgestone core tire products and AI solutions.
“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,” said Paolo Ferrari, Global Chief Solutions Business Officer of Bridgestone Corp. and President and CEO of Bridgestone Americas, in a statement.
Solutions for Bridgestone Americas
“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.”
The deal with Fremont, California-based Azuga is expected to close by the end of the third quarter, Bridgestone Americas added.
Founded in 2012, 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.
Providing broad support
These solutions create value for fleets and insurers through improved safety on the road, as well as reduced fuel consumption and wear and tear on vehicles. With more than 6,000 fleet business customers in North America, Azuga broadly supports organizations across industries, including commercial fleets, insurance companies and government agencies.
Azuga will maintain its headquarters in Silicon Valley. All Azuga employees and facilities across the U.S. and India will join Bridgestone upon completion of the transaction.
“Bridgestone’s focus on building a more sustainable future through mobility technologies is well-aligned with the mission of Azuga,” said Ananth Rani, CEO of Azuga Holdings, Inc. “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.”