M&A Deal Summary

Bridgestone Americas Acquires Azuga

On August 2, 2021, Bridgestone Americas acquired technology hardware company Azuga from Sumeru Equity Partners and Danlaw for 391M USD

Acquisition Highlights
  • This is Bridgestone Americas’ 1st transaction in the Technology Hardware sector.
  • This is Bridgestone Americas’ 2nd largest (disclosed) transaction.
  • This is Bridgestone Americas’ 2nd transaction in the United States.
  • This is Bridgestone Americas’ 1st transaction in California.

M&A Deal Summary

Date 2021-08-02
Target Azuga
Sector Technology Hardware
Buyer(s) Bridgestone Americas
Sellers(s) Sumeru Equity Partners
Danlaw
Deal Type Add-on Acquisition
Deal Value 391M USD

Target

Azuga

San Jose, California, United States
website
Azuga is a provider of connected vehicle, fleet and telematics software, and solutions for commercial fleets, government agencies, insurance companies, and automotive industry. Azuga was founded in 2012 and is based in San Jose, California.

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Buyer(S) 1

Buyer

Bridgestone Americas

Nashville, Tennessee, United States

website


Category Company
Founded 1990
Sector Automotive
DESCRIPTION

Bridgestone Americas engages in tire manufacturing and wholesale and original equipment sales operations across a broad line of products, including consumer, commercial truck and bus, agricultural, and off road tires.


DEAL STATS #
Overall 3 of 3
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (California) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-07 Firestone Building Products Company

Nashville, Tennessee, United States

Firestone Building Products Company LLC is a manufacturer and supplier of a comprehensive “Roots to Rooftops” product portfolio for commercial building performance solutions. Firestone Building Products was founded in 1980 and is based in Nashville, Tennessee.

Sell $3.4B

Seller(S) 2

DESCRIPTION

Sumeru Equity Partners, Inc. is a technology-focused private equity firm that makes investments in mid-market software, technology enabled services, and hardware companies with a focus on growth. Sumeru Equity Partners typically invests between $25 and $200 million in companies with revenues greater than $10 million. Sumeru Equity Partners was formed in 2014 and is based in Foster City, California.


DEAL STATS #
Overall 9 of 11
Sector (Technology Hardware) 2 of 2
Type (Add-on Acquisition) 4 of 6
State (California) 3 of 3
Country (United States) 7 of 8
Year (2021) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 Loopio

Toronto, Ontario, Canada

Loopio is a software provider that helps companies streamline their response process for RFPs, DDQs, and Security Questionnaires. With Loopio, teams can respond faster, improve response quality, and win more business. Loopio is one of Canada’s fastest-growing tech startups. Loopio was founded in 2014 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-06 iProov

London, United Kingdom

iProov is a provider of an online facial biometric authentication, working with governments, banks and other enterprises to securely verify customer identity. iProov was founded in 2013 and is based in London, United Kingdom.

Buy -
SELLER

Danlaw

Novi, Michigan, United States

website


Category Company
Founded 1984
Sector Technology Hardware
DESCRIPTION

Danlaw, Inc. is a provider of embedded hardware and software engineering services company serving the automotive, insurance and mobile resource sectors.


DEAL STATS #
Overall 1 of 1
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-03 Azuga

San Jose, California, United States

Azuga is a provider of connected vehicle, fleet and telematics software, and solutions for commercial fleets, government agencies, insurance companies, and automotive industry. Azuga was founded in 2012 and is based in San Jose, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-08 Cohda

Wayville, Australia

Cohda is a provider in the development of connected vehicles and connected autonomous vehicle software with proven applications for Smart City, Mining and other environments. Cohda's technology connects vehicles with infrastructure and pedestrians to make our streets, cities and working environments safer, smarter and greener. Cohda was formed in 2004 and is based in Wayville, Australia.

Buy -