Tag: TomTom

TomTom shareholders set for 750 million-euro windfall

16th May 2019 | 0 Comments

TomTom is set to return roughly 750 million euros to its shareholders after the sale of TomTom Telematics to Bridgestone for 910 million euros closed in April 2019. According to the company, TomTom will return the money on 27 May, through a consolidation of shares. Telecom Paper reported that for every 16 shares, nine will remain, resulting in the repayment of 5.74 euros per remaining share. This is said to be equivalent to 3.22 euros per share, based on the number of outstanding shares before consolidation.

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Michelin buys Masternaut

Michelin buys Masternaut

16th May 2019 | 0 Comments

Michelin has agreed to buy the entire share capital of Masternaut, one of the largest European telematics providers, for an undisclosed amount. While not price details have been released, according to the company, the transaction has been made on the basis of eight-times 2018 EBITDA before synergies. Masternaut will continue to operate under its own brand as a fully-owned subsidiary within Michelin, and the transaction is expected to close within the next sixty days.

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Bridgestone Europe completes acquisition of TomTom Telematics

Bridgestone Europe completes acquisition of TomTom Telematics

1st April 2019 | 0 Comments

Bridgestone Europe has completed the acquisition of TomTom Telematics (Telematics) for €910 million. The deal passed the relevant regulatory stages, had full approval from TomTom’s shareholders, and received a positive response from TomTom’s works council, the tyre manufacturer states. Tyres & Accessories spoke with Bridgestone about the thinking behind the acquisition when it was announced in January.

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Data increasingly important to future prospects in tyre and mobility sectors

Data increasingly important to future prospects in tyre and mobility sectors

11th February 2019 | 0 Comments

It is not unusual for the start of the year to be replete with corporate acquisitions. Some even happen while much of the western world is enjoying Christmas and new year holidays. While European FinTyre Distribution (EfTD) did indeed enact the latest move in its ongoing strategic purchasing programme during the 2018 holiday break, it seems that this year February was the month of choice for getting the chequebooks out, with Bridgestone, Michelin and – in the UK at least – Goodyear all announcing strategic spending. For different but connected reasons all three challenge us to consider the impact of changing mobility trends.

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The thinking behind Bridgestone’s TomTom Telematics acquisition

The thinking behind Bridgestone’s TomTom Telematics acquisition

29th January 2019 | 0 Comments

Bridgestone’s successful acquisition of TomTom Telematics follows earlier reports that both Michelin and Bridgestone were vying to buy the Telematics business unit from Netherlands-based company TomTom. In addition, according to Dutch financial daily Het Financieele Dagblad, Michelin was one of four in the running. For its part, Michelin was allegedly aiming to add the business into its Michelin Solutions portfolio. Clearly, in order to maintain its original plans and to compete with Bridgestone, Michelin will now have to find an alternative way of moving forward.

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Bridgestone buying Tomtom Telematics for 910 million euros

Bridgestone buying Tomtom Telematics for 910 million euros

22nd January 2019 | 0 Comments

Bridgestone Europe NV/SA, the Europe Middle East and Africa (EMEA) subsidiary of Bridgestone Corporation, has entered into an agreement with TomTom to acquire its telematics business for a cash consideration of 910 million euros. Michelin had also been named as a suitor for the business when the news that TomTom Telematics was for sale emerged in November 2018.

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Delphi partners TomTom on driverless technology

4th January 2019 | 0 Comments

Delphi Technologies PLC has announced a collaboration with TomTom, known for its satnav products. According to the two companies, the partners will collaborate on “electronic and software applications designed to further optimize vehicle fuel efficiency and emissions through the use of real-time mapping data”.

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Michelin, Bridgestone interested in TomTom telematics business

Michelin, Bridgestone interested in TomTom telematics business

29th November 2018 | 0 Comments

It appears that Michelin and Bridgestone are interested in acquiring the TomTom Telematics business unit from Netherlands-based company TomTom. According to Dutch financial daily Het Financieele Dagblad (FD), Michelin – one of four companies vying to acquire the business – allegedly aims to add the business into its Michelin Solutions portfolio. The other interested parties are said to be Pamplona Capital Management, which already holds a 26.5 per cent share in London-headquartered telematics and data analytics solutions provider Octo Telematics, and a second, unnamed investment company.

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