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Trimble to Acquire GeoNav GmbH in Germany to Expand Software Applications for the European Survey Market
SUNNYVALE, June 30, 2004 -- Trimble (NASDAQ:TRMB) announced today that it has agreed to acquire GeoNav GmbH of Wunstorf, Germany, a provider of customized field data collection solutions for the cadastral survey market in Europe. Financial terms were not disclosed. The transaction is expected to close in early July.
The addition of GeoNav's software resources, expertise and products enable Trimble to better address local application requirements and provide customized survey solutions for the European market.
"GeoNav has had a very close and successful relationship with Trimble for many years," said Dr. Frank Heimberg, president of GeoNav. "Since the company was founded, GeoNav's vision has been to focus on the local requirements of the regional markets and to provide fine-tuned solutions. The knowledge and experience of the GeoNav employees gained during more than 18 years of experience with GPS, especially with Trimble GPS, provides an ideal partnership to address the European survey market. We are very proud to become a part of the Trimble family."
"The acquisition reinforces our commitment to the European market as well as our goal of providing total survey solutions. GeoNav's strength lies in its ability to customize software applications and Trimble intends to leverage this expertise to quickly provide localized solutions in the European marketplace," said Jürgen Kliem, division vice president of Trimble's survey business area. "We are extremely pleased that GeoNav will have even closer ties to Trimble."
For more than 12 years, GeoNav has been working as a Trimble partner. The company identified an early opportunity to increase Trimble sales by providing customized field data collection applications for the highly specialized cadastral survey market in Germany. This lead to close R&D cooperation between the two companies and the development of GeoNav's industry leading DCTools cadastral survey software, and the GPS Based Online Control and Alarm System (GOCA - developed in Cooperation with Fachhochschule Karlsruhe, University of Applied Science). With the growing success of its software products, GeoNav began focusing solely on software development, consultation, sales and training. GeoNav's suite of software products work seamlessly with Trimble's complete line of surveying systems including GPS rovers, base stations and optical total stations and they provide acquisition, processing and display of precise real-time surveys.
The Geonav products will be available through the standard Trimble distribution channels in Europe.
For more information, visit GeoNav's Web site at: www.geonav.de.
About Trimble's Geomatics and Engineering Business
Trimble, a world leader in GPS, construction lasers, robotic total stations and machine control solutions, is creating a broad range of innovative solutions that will change the way construction work is done. The Geomatics and Engineering Business of Trimble is focusing on the development of technology and solutions in the core areas of surveying, construction and infrastructure. From concept to completion, Trimble's integrated systems streamline jobs and improve productivity.
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.
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. This press release contains forward-looking statements that include the successful completion of the GeoNav acquisition, as well as Trimble's strategic and operational plans to integrate the two companies operations and market new product offerings. Actual results may differ from those set forth in this press release due to certain risks and uncertainties, including the ability to achieve market acceptance of product offerings from the acquisition and the risks inherent in acquiring and integrating a company, unanticipated expenditures and changing relationships with customers. Among other things, economic trends and additional competitive issues may have an adverse effect on the success of the proposed acquisition. These and other risks are detailed from time to time in reports filed with the SEC, including Trimble's quarterly reports on Form 10-Q and its annual report on Form 10-K.
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808