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TomTom Sells Telematics Unit to Bridgestone for $1 Billion

  • Deal is Bridgestone’s biggest ever acquisition in Europe
  • Dutch TomTom facing mapping battle against U.S. tech giants
TomTom NV Chief Executive Officer Harold Goddijn Portraits

Photographer: Jasper Juinen/Bloomberg

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TomTom NV will sell its Telematics fleet-management business to tire manufacturer Bridgestone Corp. for 910 million euros ($1 billion), freeing up resources to battle the likes of Alphabet Inc. for access to mapping technology in car dashboards.

The sale is a big step in TomTom’s shift to location technology as customers ditch the personal navigation devices that made the company a household name in favor of smartphones.