2/19/2004 - Trimble (NASDAQ:TRMB) announced that it has agreed to acquire privately-held TracerNet Corporation of Chantilly, Virginia, a provider of wireless fleet management solutions, in an all cash transaction. Terms were not disclosed. Completion of the transaction, anticipated in March, is subject to the usual and customary closing conditions.
As part of the acquisition, TracerNet and Trimble's Mobile Solutions Division will be consolidated under a new legal entity, Trimble Mobile Solutions, Inc., which will operate as a wholly owned subsidiary of Trimble.
"With this acquisition, we will focus on integrating the best features from each company to offer more diverse and complete fleet management solutions," said Steven W. Berglund, president and CEO of Trimble. "TracerNet's strength lies in its ability to deeply integrate fleet information with enterprise software applications, and Trimble intends to leverage this competency beyond construction to allow us to serve large enterprise fleets. This combination shows our commitment to the fleet management market and it allows us to more quickly build scale as we head towards profitability in this segment."
The announcement was made today at the World of Concrete, the industry's largest annual commercial construction show.
Trimble Mobile Solutions Division
Trimble's Mobile Solutions Division offers complete solutions for mobile resource management (MRM), which include location-aware mobile devices, software, wireless communications and Internet location-based services. The division focuses on advanced wireless applications for fleet and workforce management, including construction, waste management, service, utility, and enterprise vehicles.
Trimble is a leading innovator of Global Positioning System (GPS) technology. In addition to providing advanced GPS components, Trimble augments GPS with other positioning technologies as well as wireless communications and software to create complete customer solutions. Trimble's worldwide presence and unique capabilities position the Company for growth in emerging applications including surveying, automobile navigation, machine guidance, asset tracking, wireless platforms, and telecommunications infrastructure. Founded in 1978 and headquartered in Sunnyvale, Calif., Trimble has more than 2,000 employees in more than 20 countries worldwide.
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