Bridgestone invests $3 million in Halfords’ Avayler system
Bridgestone has invested US$3 million dollars in buying a 5 per cent stake in Halfords Group Plc’s Avayler Software as a service (SaaS) business. The investment therefore values the two-year-old Avayler business at $60 million. Under the associated commercial agreement, which has an initial term of 15 years notwithstanding certain break clauses, Avayler will provide Bridgestone with access to Avayler’s in-garage and van software products as well as certain services to facilitate Bridgestone’s use of it. These include services relating to maintenance, development, implementation and support. The commercial agreement provides for the roll-out of Avayler’s products across Bridgestone’s retail and van operation in the USA.