Is TomTom Telematics About to be Acquired?

New reports from Europe suggest that Michelin and Bridgestone may be poised to acquire the TomTom Telematics business unit, owned by the Dutch company TomTom.

According to the Dutch financial daily Het Financieele Dagblad, Michelin is circling in. Also in the running is Pamplona Capital Management, which already holds a sizable stake in another telematics provider.

The reasons for the interest are clear: TomTom Telematics works with over 861,000 connected cars worldwide. The company manages drivers in over 60 countries.

Category: Capital Markets, Telematics, Vehicle News