As per the latest news circulating in the tech media world, leading French tyre manufacturing company Michelin aspires to buy the Telematics business of TomTom, a Dutch navigation service company. Notably, Michelin is heading towards the second round of sales process which TomTom initiated since September end this year. Further, it has been also reported that the company is willing to integrate Telematics into its own fleet management division Michelin Solutions. Further, Telematics may seal the deal in an amount between €1 billion and €1.5 billion.
Others in the loop
Meanwhile, British investment firm Pamplona Capital Management, which owns 26.5% stake in Octo Telematics – an Italian company, has also shown interest to buy Telematics from TomTom. Also, Bridgestone, a Japanese tyre manufacturer, is also sprinting high in the channel of the Dutch auction.