Trimble said it has reached final agreement to acquire privately held TMW Systems, in a move that is set to boost the transportation software maker's position in the North American trucking market.
"Trimble's global presence will provide a strong channel for extending TMW's reach and scope, beyond its leading position in North America," said David Wangler TMW's president and chief executive officer.
TMW makes software to manage transportation and logistics companies' fleets. The Ohio-based group has customers in North America, Europe, China and Latin America.
California-based Trimble offers a broad range of products built around GPS technology. Its software, which is distributed in 141 countries, allows customers to collect, manage and analyze information transmitted wirelessly. The companyÂ serves a variety of industries including agriculture, engineering and construction and transportation.
Ron Konezny, general manager of Trimble's transport and logistics division, said the integration of TMW, adds a fast-growing operation to the company.Â "With more fleets deploying information-based solutions to improve business performance, the tight integration enabled by this transaction can offer a more comprehensive and seamless solution, he said. He said the companies' combined products would enable "a continuous flow of information between customer, shipper, carrier and driver."
Trimble is paying 335 million dlrs in cash for TMW, which has annual revenue of close to 100 million dlrs. Trimble posted net profit of 151 million dlrs on revenue of 1.64 billion dlrs in 2011. That revenue jumped 27 pc from the year before.