Bridgestone Americas has completed the acquisition of Azuga Holdings Inc. and the Azuga fleet management platform from Sumeru Equity Partners, Danlaw Inc. and other shareholders. The acquisition, valued at $391 million, is expected to accelerate Bridgestone’s efforts to develop and deploy a comprehensive fleet management solution.
Featuring GPS tracking, video telematics, driver behavior management and accident reduction features for insurers, the Azuga platform’s goal is to improve business performance, reduce fuel consumption and decrease wear and tear on vehicles. Azuga currently supports more than 6,000 customers in the U.S. and Canada in the commercial trucking and insurance industries, as well as the public sector.
“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 and CEO, Bridgestone Americas, and global chief solutions business officer, Bridgestone Corp. “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.”
More than 400 Azuga employees and all Azuga facilities in the U.S. and India have transitioned to Bridgestone. Azuga will remain headquartered in Fremont, California, strengthening Bridgestone’s Silicon Valley presence.
The acquisition of Azuga is Bridgestone’s latest step in its strategy to become a “sustainable solutions company,” building on its recent investment in electrified and autonomous freight specialist Einride and its partnership with autonomous long-haul trucking company Kodiak Robotics.