Pending customary closing circumstances and regulatory approvals, Bridgestone will assume ownership of Azuga’s brands and business enterprise platforms. The Azuga fleet management system, which includes superior protection and fleet management resources, will enhance the current Bridgestone portfolio of cloud-centered fleet mobility alternatives. The acquisition of Azuga will promptly progress Bridgestone’s complete methods for little to company-sized fleets, offering serious-time auto operations insights and details analytics that will boost protection, improve performance and enrich customer service experiences. Bridgestone will leverage Azuga’s strong fleet knowledge seize system to advance the growth of Bridgestone main tire products and solutions and AI methods.
“Azuga is revolutionizing the way that fleets do organization in the U.S. with course-major computer software and a rapid innovation method that will additional progress Bridgestone’s vision to be a sustainable solutions firm,” mentioned Paolo Ferrari, World Main Options Organization Officer, Bridgestone Company, and President and CEO, Bridgestone Americas. “We are doing the job towards offering the most sustainable and smart options for safer and more successful mobility, and Azuga will aid us speed up their advancement and deployment to our prospects.”
Started in 2012, Azuga is a technological innovation organization that has created a sophisticated fleet management system with GPS tracking, video clip telematics, driver conduct management and accident reduction solutions for insurers. These solutions make value for fleets and insurers by improved protection on the street, as very well as minimized fuel usage and wear and tear on automobiles. With extra than 6,000 fleet company prospects in North America, Azuga broadly supports companies across industries such as business fleets, insurance policy providers and govt organizations. Azuga will maintain its headquarters in Silicon Valley. All Azuga employees and facilities across the U.S. and India will be a part of Bridgestone upon completion of the transaction.
“Bridgestone’s aim on developing a much more sustainable foreseeable future through mobility systems is well aligned with the mission of Azuga,” claimed Ananth Rani, CEO of Azuga Holdings, Inc. “With each other, our groups will carry on the momentum we’ve now made, and speed up our path toward offering the most advanced mobility methods for our consumers and culture.”
“Since our first expenditure in 2018, Azuga has scaled fast to develop into a leader in the fleet administration and mobility alternatives sector,” stated Mark Haller, principal at Sumeru Fairness Associates. “It has been a privilege to partner with the Azuga workforce about the last three a long time, and we look ahead to viewing Bridgestone and Azuga thrive together in the long term.”
The acquisition of Azuga continues Bridgestone’s evolution toward getting to be a sustainable answers enterprise, and builds on Bridgestone’s recently introduced financial investment in autonomous prolonged-haul trucking organization Kodiak Robotics.
PJT Partners is serving as fiscal advisor to Bridgestone, and Hogan Lovells is serving as lawful counsel. Barclays is serving as monetary advisor to Azuga, and Gibson Dunn is serving as authorized counsel.
For far more corporation information, pay a visit to BridgestoneAmericas.com.
About Bridgestone Americas, Inc.:
Nashville, Tennessee-primarily based Bridgestone Americas, Inc. is a subsidiary of Bridgestone Corporation, a worldwide chief delivering sustainable mobility and highly developed answers. Bridgestone Americas develops, manufactures and markets a numerous portfolio of original machines and substitution tires, tire-centric answers, mobility options, and other rubber-connected and diversified merchandise that produce social value and purchaser value. Guided by its global company social responsibility motivation, Our Way to Provide, Bridgestone is focused to shaping a sustainable foreseeable future of mobility and strengthening the way people shift, are living, operate and engage in.
Azuga was launched in 2012 with the eyesight to consistently enhance safety and efficiency within the fleet ecosystem. Azuga is a foremost world-wide linked motor vehicle system, assisting shoppers flip details from automobiles and motorists into intelligence that improves operations and protection even though lessening cost and risk. Azuga gives revolutionary conclusion-to-stop options for commercial fleets, authorities organizations, insurance policy firms, and automotive marketplace suppliers as a result of an integrated approach of hardware know-how, fleet administration applications, driver gamification, video telematics, and facts analytics. The award-successful Azuga Fleet solution powers in excess of 6,000 industrial fleets, from compact to big company fleets. Azuga is headquartered in Fremont, California, with places of work throughout the world.
Resource Bridgestone Americas, Inc.