Sunnyvale, Calif., Dec. 19, 2008 — Trimble (NASDAQ: TRMB) announced today it has acquired the FastMap and GeoSite software assets from KOREC, a privately-held Trimble distributor serving the United Kingdom and Ireland. The acquisition, which includes software development, professional services and business development teams, will allow Trimble to expand its Mapping and Geographic Information System (GIS) solutions to provide optimized software and professional services in Europe, Africa and the Middle East. Financial terms were not disclosed.
FastMap is an integrated field-based software suite for GIS data collection, maintenance, and use that supports all Ordnance Survey digital data sources as well as data from any GIS system that conforms to OpenGIS® standards. The suite includes modules for mobile data capture and data maintenance, workforce management, asset management, and map production. The GeoSite product provides a complete solution for land surveyors and construction professionals for managing a full range of field to office functions such as processing data, editing CAD files, conducting volume analysis, and plotting production operations, all in a single software package. The acquired professional services group delivers customized solutions for various industries throughout the United Kingdom and Ireland including utilities, government, transportation and environmental management.
“The FastMap and GeoSite software will enable Trimble to provide a complete and compelling solution to our enterprise customers in the United Kingdom and Ireland,” said Peter Large, general manager of Trimble’s Mapping and GIS Division. “In addition, the software and professional services team will enable us to provide custom solutions to key enterprise customers in the utilities, transportation and government sectors in Europe, Africa and the Middle East.”
KOREC is one of Trimble’s largest distributors providing a single source supply for advanced GPS solutions to the construction, surveying and GIS industries in the United Kingdom and Ireland. For more information, visit: www.korecgroup.com
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 and headquartered in Sunnyvale, Calif., Trimble has a worldwide presence with more than 3,800 employees in over 18 countries. For more information, visit Trimble’s Web site at www.trimble.com
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, whether Trimble will be able to successfully expand its GIS solutions through the acquisition and provide complete and compelling solutions to enterprise customers; whether enterprise customers, especially in new geographic markets, will adopt such solutions; and the impact of worldwide recessionary conditions on enterprise customer purchasing decisions. Additional risks and uncertainties include: the risks inherent in integrating an acquisition; unanticipated expenditures, charges or assumed liabilities that may result from the acquisition; retaining key personnel; and the impact of the current global financial crisis and recessionary conditions. 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.