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| Trimble Enters into Definitive Agreement to Acquire Ashtech to Expand its Spectra Precision GNSS Portfolio of Survey Solutions
SUNNYVALE, Calif., April 19, 2011—Trimble (NASDAQ: TRMB) announced today it has entered into a definitive agreement to acquire privately-held Ashtech S.A.S., headquartered in Carquefou, France, and its affiliates. The acquisition is expected to expand Trimble's Spectra Precision® portfolio of survey solutions and allow the company to better address emerging markets worldwide. Closing of the transaction, anticipated in the second quarter, is subject to certain closing conditions. Financial terms were not disclosed.
"With the acquisition of Ashtech, survey and construction professionals using Spectra Precision's range of surveying solutions should be able to enjoy an even more comprehensive set of GNSS instruments to meet their daily job requirements," said Joe Denniston, vice president of Trimble's Spectra Precision Business. "Combining Ashtech's wide portfolio of GNSS products with Spectra Precision's global distribution network can provide surveyors exciting new choices for optimal efficiency."
"Trimble's acquisition of Ashtech is an ideal fit for both organizations. Our innovative GNSS portfolio and expertise complements Spectra Precision's powerful brand and global reach," said Francois Erceau, vice president and general manager of Ashtech. "The acquisition should benefit Ashtech's existing customers in the markets we serve and enhance our ability to support them with an even broader portfolio moving forward."
The operating results of the acquired business will be reported within Trimble's Engineering and Construction segment.
about Ashtech
Recognized as an industry innovator, Ashtech has been developing GNSS technology for more than 25 years. Ashtech is the creator of BLADE technology, which is a unique method for using multiple GNSS constellations for high-accuracy positioning. Ashtech has also introduced the MobileMapper® series of products for GIS and mapping, as well as the ProFlex™ 500 and ProMark™ series, including the ProMark 500, ProMark200 and ProMark100, a well-recognized GNSS land survey product line currently on the market. Ashtech S.A.S. is privately held and headquartered in Carquefou, France, with offices in Beijing, China, and Singapore, as well as affiliates in Santa Clara, Calif. (Ashtech LLC) and Moscow (Ashtech A/O LLC).
For more information on Ashtech, visit: www.ashtech.com.
about the Spectra Precision Brand
Focusing on the specific needs of the conventional surveying market, the Spectra Precision brand offers a complete product portfolio including Global Navigation Satellite Systems (GNSS), Global Positioning Systems (GPS), optical total stations, data collection hardware, field and office software, as well as a wide range of construction tools.
Spectra Precision surveying equipment is an economical choice that utilizes technologies for optimal efficiency. With convenience and reliability as the foundation of the Spectra Precision brand, it is an ideal choice for value. The Spectra Precision brand is backed with the strong technical support that users have come to expect from a quality name in surveying and construction.
about Trimble
Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location—including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978, Trimble is headquartered in Sunnyvale, Calif.
Certain statements made in this press release are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, and actual events and results may differ materially from those described in this news release. Factors that could cause or contribute to such differences include, but are not limited to, the satisfaction of conditions to closing the purchase and the timing of such closing; Trimble's ability to successfully integrate and expand the Ashtech and Spectra Precision product portfolios; offer new optimal solutions to the survey market; and enhance its global support capability through the acquisition. Additional risks and uncertainties include: the risks inherent in integrating an acquisition; unanticipated expenditures, charges or assumed liabilities that may result from the acquisition; and retaining key personnel and commercial relationships. More information about potential factors which could affect Trimble's business and financial results is set forth in reports filed with the SEC, including Trimble's quarterly reports on Form 10-Q and its annual report on Form 10-K. All forward looking statements are based on information available to Trimble as of the date hereof, and Trimble assumes no obligation to update such statements.
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