Trimble (NASDAQ: TRMB) announced today that it has signed an agreement to acquire privately-held PeopleNet, a leading provider of integrated onboard computing and mobile communications systems for effective fleet management. PeopleNet provides fleets with software and hardware solutions that help manage regulatory compliance, fuel costs, driver safety and customer visibility. The acquisition is expected to be immediately accretive upon close and will be reported in Trimble's Mobile Solutions segment. The transaction is expected to close in the third quarter of 2011, subject to customary closing conditions and expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
"PeopleNet is a key step in Trimble's strategy for addressing the complex regulatory and operational demands of enterprise companies in the transportation and logistics (T&L) market," said Steven W. Berglund, Trimble's president and chief executive officer. "In combination with other recent initiatives, including the acquisitions of Punch Telematix and Tata Automotive Mobility Technologies, Trimble now offers a portfolio of proven solutions to a growing international customer base. These new initiatives are expected to contribute strong operating margins and high customer retention. PeopleNet's management and employees will be the core of our Americas T&L business and we expect to provide seamless continuity to existing PeopleNet customers."
"The PeopleNet management team is enthusiastic about joining Trimble," said Ron Konezny, founder and chief executive officer of PeopleNet. "Trimble provides PeopleNet with significant additional scope that will allow us to build on our tradition of customer-driven innovation, and expand delivery of products and services by improving the performance and functionality of our existing and future offerings. The combination of PeopleNet's product portfolio with Trimble's broad technology base will allow us to create unique solutions that will enable our customers to manage their most important assets. We are confident the acquisition is a great fit, and with the continuity of our people, culture, and commitment to customer focus, we will continue to deliver best-of-class products and services."
Jul 22, 2011
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