TomTom to sell Telematics unit to Bridgestone for $1.03 billion

TomTom navigation are seen in front of TomTom displayed logo in this illustration taken July 28, 2017. REUTERS/Dado Ruvic - Copyright DADO RUVIC(Reuters)

By Reuters

Published on 22/01/2019 - 11:05•Updated 07/05/2024 - 07:10

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AMSTERDAM (Reuters) - TomTom <TOM2.AS>, the Dutch navigation and digital maps company, said on Tuesday it has agreed to sell its Telematics, or the fleet data business, to Bridgestone <5108.T> for 910 million euros (£802.5 million or $1.03 billion).

TomTom said it would return 750 million euros of the sales proceeds to shareholders via a capital repayment, which is not subject to dividend tax.