Transaction details
Upon closing, Bridgestone will acquire all issued and outstanding share capital of TomTom Telematics for a cash consideration of €910 million, subject to customary closing adjustments. The acquisition is being funded with available cash on the balance sheet and is expected to be EPS accretive in year one. It is only the telematics business unit of TomTom which is being acquired.
The transaction is anticipated to be completed latest in the second quarter of 2019. The transaction is still subject to the relevant regulatory approvals, the consultation with TomTom employee representative bodies, and approval of TomTom’s shareholders.
In connection with this transaction, Morgan Stanley is acting as exclusive financial advisor to Bridgestone and Simmons & Simmons is acting as legal advisor.
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About Bridgestone in Europe, Middle East and Africa
We're the EMEA business of the world’s largest tyre and rubber company. For almost 90 years, we've been providing the confidence to get people and goods where they need to go as conveniently as possible, without interruption. That’s as true today as ever and means we’re trusted where it matters most: where the vehicle meets the road. We’re brilliant chemists, engineers and data scientists with some of Europe’s most advanced factories and world-beating technology. We’re uncompromisingly focused on providing real solutions to the real problems that drivers face on the road every day. We keep them going, no matter what.
We’re present in 38 countries in EMEA, employing more than 18,300 people. We have 15 tyre plants in the region, a major R&D centre, and a proving ground. We’re proud to be the largest R&D spender in our industry, investing over €790 million over the past year.
For more information about Bridgestone in EMEA, please visit www.bridgestone.eu and www.bridgestonenewsroom.eu. Follow us on Facebook, Instagram, YouTube, Twitter and Linkedin.
About TomTom
TomTom is the leading independent location technology specialist, shaping mobility with highly accurate maps, navigation software, real-time traffic information and services.
To achieve our vision of a safer world, free of congestion and emissions, we create innovative technologies that keep the world moving. By combining our extensive experience with leading business and technology partners, we power connected vehicles, smart mobility and, ultimately, autonomous driving.
Headquartered in Amsterdam with offices in 37 countries, TomTom’s technologies are trusted by hundreds of millions of people worldwide.
For more information, please visit www.tomtom.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190121005510/en/
Contact:
Media information Bridgestone
Liesbeth
Denys
Head of PR and Corporate Communications EMEA
+32
478 78 26 22
Email Contact
Media information TomTom
Sandra
Van Vreedendaal, VP Communications
+31 6 15 83 69 69
Email Contact
