TomTom sells Telematics business to Bridgestone
The Dutch supplier will focus more on its location technology business.
TomTom reached an agreement to sell its Telematics business to Bridgestone for EUR910 million (USD1 billion), the company said in a press release on 22 January 2019. The transaction is subject to customary closing conditions, including approvals from relevant regulatory authorities, consultation with employee representative bodies, and approvals from TomTom’s shareholders. The company expects to conclude the sale by the end of the second quarter of 2019.