Bridgestone to buy TomTom

Japanese tire maker Bridgestone just announced it would buy the Telematic fleet-management business from TomTom NV for some $1 billion.

Also in the race for the bids were Verizon Communications, Microsoft Corp., Daimler AG and Michelin.

TomTom is selling that part of its business which delivers vehicle-related data and intelligence for fleet management and connected car services.

Bridgestone will use it to gather data from 860,000 units of vehicles using that service in order to develop products and improve tire maintenance service.

Photo: TomTom’s telematics bundle.
Photo: TomTom

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