Bridgestone Americas (Bridgestone), in partnership with Sumeru Equity Partners and Danlaw Inc. as well as other shareholders, has reached an agreement to purchase Azuga Holdings Inc. (Azuga) and the Azuga fleet management platform for $391 million.
The acquisition aims to push forward Bridgestone’s efforts to develop and deploy sustainable mobility solutions as a central pillar of the company’s advanced mobility strategy. The Azuga fleet management platform, which includes advanced safety and fleet management tools, will complement the existing Bridgestone portfolio of cloud-based fleet mobility 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 Corporation as well as president and CEO of 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 acquisition of Azuga continues Bridgestone’s evolution toward becoming a sustainable solutions company, and builds upon Bridgestone’s recently announced investment in autonomous long-haul trucking company Kodiak Robotics.
Pending customary closing conditions and regulatory approvals, Bridgestone will assume ownership of Azuga’s brands and business platforms. The transaction has been approved by each company’s board of directors and is expected to close by the end of the third quarter of 2021.
