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.
In September, the Dutch company said it was exploring a sale of Telematics, which delivers vehicle-related data and intelligence for fleet management and connected car services. Media reports also identified Verizon Communications Inc., ...
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