TomTom: sells telematics division to Bridgestone
(CercleFinance.com) - TomTom has announced the sale of its telematics division to the Japanese tyre maker Bridgestone, price of 910 million euros in cash.
The Dutch specialist in digital road mapping, which intends to return "the majority" of the proceeds of this sale to its shareholders, believes that in this way, it will be more likely to generate high growth.
TomTom Telematics will enable Bridgestone to accelerate the implementation of its aim to become the leader in mobility solutions in this region of the world, Bridgestone said. The deal is expected to be finalised in Q2 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Dutch specialist in digital road mapping, which intends to return "the majority" of the proceeds of this sale to its shareholders, believes that in this way, it will be more likely to generate high growth.
TomTom Telematics will enable Bridgestone to accelerate the implementation of its aim to become the leader in mobility solutions in this region of the world, Bridgestone said. The deal is expected to be finalised in Q2 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.