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TomTom exits telematics, sells to Bridgestone for $1bn, moves to counter Here

TomTom is offloading its telematics and fleet management division to Bridgestone, the world’s largest tire manufacturer, for just over $1bn (€910mn) The move comes as TomTom tries to shift its focus to digital maps, location services, and the high-definition maps needed for self-driving vehicles. This is to catch up to and counter the progress of Here, as well as Waymo. Based in Japan, Bridgestone says it plans to use the data generated by the 861,000 vehicles (49,000 customers, 200mn datapoints daily) monitored by the new purchase, to improve its product development and maintenance systems. The telematics wing accounted for 18% of TomTom’s 2017 revenue, employing 670 staff, and the company had floated the idea of selling Telematics a few months…

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