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Trimble Enters into Definitive Agreement to Acquire TopoSys to Extend Its Geospatial Solutions Business
SUNNYVALE, Calif., Sep 26, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Trimble (Nasdaq: TRMB) today announced that it has entered into a definitive agreement to acquire TopoSys GmbH of Biberach an der Riss, Germany in an all-cash transaction. TopoSys is a leading provider of aerial data collection systems comprised of LiDAR and metric cameras. Closing of the transaction, anticipated to occur in the fourth quarter, is subject to certain closing conditions. Financial terms were not disclosed.
TopoSys aerial data collection systems are used by service companies collecting geospatial data by LiDAR and photogrammetry as well as state authorities and municipalities involved in supplying geospatial information. Typical applications include mapping for coastline protection, floodplain control, city modeling, opencast pit mining, and corridor mapping.
Over the last two years, TopoSys has evolved from an aerial services business to an aerial data collection systems developer and integrator. The acquisition of TopoSys extends Trimble's portfolio of engineering scale mapping and asset management solutions. TopoSys will also provide a European footprint to support Trimble's aerial mapping customers, who face short flight seasons, with regional support.
"TopoSys complements the aerial imaging solutions offered by our subsidiaries Applanix and INPHO. As an integrator of the Applanix POSTrack direct georeferencing and flight management system and RolleiMetric aerial industrial camera, TopoSys has developed high productivity aerial data collection systems for engineering scale mapping and asset management," said Ken Spratlin, director for strategy and business development for Trimble. "As part of the Trimble Connected Site solutions, these systems will provide high accuracy as-builts, enabling advanced process and workflow integration from the design phase through construction to the subsequent maintenance phase- delivering significant improvements in productivity."
"With Trimble's focus on the geospatial solutions business, joining the company accelerates TopoSys' evolution to an aerial data collection systems developer and integrator," said Svein Vatslid, managing director of TopoSys. "We are pleased to become a part of Trimble."
Svein Vatslid and the staff of TopoSys will join Trimble and will be reported as part of the Engineering and Construction segment.
About TopoSys GmbH
TopoSys, founded in 1995, commercialized the airborne fiber optic laser scanner together with a line camera to obtain information of the topography. Today, TopoSys has customers in service companies as well as state authorities and municipalities who use its aerial data collection solutions and services for coastline protection, floodplain control, city modeling, opencast pit mining, and corridor mapping.
For more information, visit: www.toposys.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 3,600 employees in over 18 countries.
For more information, visit: 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, continued customer use and future market adoption of TopoSys solutions and, more generally, aerial data collection and processing solutions, Trimble's ability to integrate its portfolio of aerial imaging and data collection solutions or to provide compelling solutions that deliver significant improvements in productivity to users, and changing economic trends and competitive pressures in the industry. Additional risks and uncertainties include: the risks inherent in integrating acquisitions; the ability to realize synergies through the integration of TopoSys and its products; unanticipated expenditures, charges or assumed liabilities that may result from the acquisition; and retaining key personnel. 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.
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