Bridgestone’s Brisa JV acquires telematics firm Arvento

Brisa, the joint venture between Bridgestone Corporation and Sabancı Holding that holds a leadership position in Turkey’s tyre market, has acquired 88.89 per cent capital shares of Turkish fleet telematics company Arvento Mobile Systems (Arvento) for a consideration of TRY 291 million (£15 million). The transfer price will be subject to some adjustments, taking into account the net debt and working capital levels of Arvento at the closing date.

Bridgestone says this acquisition is in line with its strategic vision as well as that of Sabancı Holding and adds “innovative and sustainable value to Brisa’s strategy of growing pioneering services beyond tyres and initiating mobility solutions in Turkey.” Arvento, a key technology provider in the field of vehicle tracking and fleet management systems in the Turkish market, provides state-of-the-art fleet telematics, M2M solutions and vehicle tracking systems to over 54,000 customers.

This acquisition allows Brisa to expand its existing portfolio from its core tyre business to mobility solutions. At the same time, it will create synergies as Brisa aims to advance its existing tyre products and service network by integrating them with the Arvento fleet management platform.

Expanding beyond tyres

Pointing out that the agreement is an important milestone for Brisa to strengthen its services in sustainable mobility solutions, Brisa chief executive officer Haluk Kürkçü says: “We are working towards simplifying the lives of fleet owners and drivers by expanding our offering beyond tyres. With this move, we will provide our customers with convenience, efficiency and productivity, through fleet management services based on integrated mobile systems and data analytics. These are exciting times for our business, and we are happy to bring the dedicated and highly skilled Arvento team with us on our journey.”

“I believe that combining the capabilities of the fleet telematics solutions we have developed with Brisa’s strength and industry experience will create great opportunities for Arvento and the automotive industry,” adds Özer Hıncal, founding partner, board member and chief executive officer of Arvento. “I am confident that the added value derived from Sabancı Holding and Bridgestone will contribute to Arvento in capturing further growth and reaching its targets faster.”