SUNNYVALE, Calif., Dec. 21, 2004 — Trimble (NASDAQ:TRMB) today announced that it has entered into a definitive agreement to acquire privately held Pacific Crest Corporation of Santa Clara, Calif., in a cash transaction. Pacific Crest is a leading supplier of wireless data communication systems for positioning and environmental monitoring applications. Closing of the transaction, anticipated in early January, is subject to usual and customary closing conditions. Financial terms were not disclosed.
Pacific Crest’s high-quality radio modems provide the necessary data link to increase GPS accuracy. Applications that can take advantage of wireless communications for precision performance include Real-time Kinematic (RTK) surveying and construction machine control for earthmoving operations. Trimble expects the Pacific Crest acquisition to further enhance its wireless data communications capabilities in the Engineering and Construction (E&C) business segment.
"We are very excited to be joining Trimble," said Mark Sellers, president and CEO of Pacific Crest Corporation. "Through this acquisition, Trimble and Pacific Crest will be able to fully capitalize on the synergies and unique advantages offered by wireless communications and positioning solutions."
"Pacific Crest is an industry leader in providing rugged and reliable wireless data communications solutions. The company has successfully built a strong market position and has demonstrated excellent financial performance," said Bryn Fosburgh, Trimble’s vice president and general manager of Geomatics and Engineering. "In addition to positioning and software technologies, we believe that wireless data communications is a core technology in providing complete solutions to our customers."
Pacific Crest Corporation has two core business areas. The company’s products provide best-in-class solutions for precision RTK GPS applications that include surveying and machine control and supervisory control and data acquisition (SCADA) wireless applications for weather stations, aquaculture and offshore monitoring.
Pacific Crest will operate as part of Trimble’s E&C business segment. The Company will continue to offer Pacific Crest products and is committed to continuing to serve their end user customer base.
About Pacific Crest Corporation
Pacific Crest Corporation is a leading manufacturer of wireless data communication equipment. Founded in 1994 and with headquarters in Santa Clara, California, Pacific Crest Corporation maintains a strong international presence in the GPS survey and environmental monitoring industries. For more company information, visit: www.paccrst.com.
About Trimble
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.
