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Trimble Acquires Beena Vision to Expand its Rail Portfolio
Vision Technology Automates Train Inspection at High Speeds
SUNNYVALE, Calif., Feb. 8, 2017—Trimble (NASDAQ: TRMB) announced today that it has acquired privately-held Beena Vision Systems Inc., a manufacturer of vision-based automatic wayside inspection systems for the railroad industry, headquartered in Norcross, Ga. Financial terms were not disclosed.
Beena Vision provides vision-based wayside detectors for the rolling stock maintenance market. Its non-contact measurement technology enables highly detailed condition assessment of train components—ranging from wheel surface condition to full train inspection—on trains operating in service and at high speeds. Beena Vision's wayside systems, coupled with software applications and image analysis technology, enable Train Operating Companies (TOCs) to manage fleet maintenance and operation through automatic measurements and inspections. Real-time alarms, alerts and reports enable significant reductions in maintenance costs and increase fleet availability for revenue generation.
Beena Vision systems are installed at most major North American Class 1 railroads as well as other worldwide TOCs.
Beena Vision integrates with Trimble's rail strategy and complements Trimble's rolling stock asset management solutions, adding vision-based data collection to existing data aggregation and analytics tools. Trimble's enterprise solutions manage the lifecycle of rolling stock from operation through maintenance and repair, allowing companies to improve operational efficiencies, manage service levels and reduce their costs. Beena Vision solutions, when integrated with the Trimble platform, provide TOCs with a more complete picture of their rolling stocks' on-board systems as well as the train components.
"Many of the largest TOCs in the U.K. and Europe rely on Trimble's solutions for rolling stock asset management. Adding Beena Vision's automatic wayside inspection systems makes us even more relevant to an expanding customer base. Beena Vision's strong North American and Australian presence, in conjunction with Trimble's UK and Europe presence, provides the ability to access new customers. In addition, Beena Vision's freight segment focus combined with Trimble's passenger rail focus creates significant synergy potential," said Tomas Larsson, general manager of Trimble's Railway Solutions Business. "Our fundamental focus is to provide solutions that reduce cost, improve efficiency and provide better visibility into train operations to maximize productivity."
"We are very excited to join Trimble. I believe the addition of Beena Vision's solutions to Trimble's portfolio extends our collective ability to deliver more powerful and robust rail solutions," said Dr. Kambiz Nayebi, CEO of Beena Vision. "In addition, we can leverage Trimble's broad portfolio of technology to even further strengthen our solutions. As part of Trimble, our commitment to our customers remains unchanged as we continue to deliver best-in-class solutions and services."
The Beena Vision business will be reported a part of Trimble's Engineering and Construction Segment.
About Beena Vision Systems Inc.
Founded in 2003, Beena Vision Systems Inc. is a leading manufacturer of vision-based automatic wayside inspection systems for the railroad industry using sophisticated machine vision and non-contact measurement technologies. These products are specifically designed to provide valuable information to effectively assess train components and track safety conditions. Headquartered in Norcross, Ga., Beena Vision has a state-of-the-art facility and an extensive R&D program to develop additional advanced systems for automatic monitoring of several critical components for freight and passenger cars, bogies, and locomotives.
For more information, visit: http://www.beenavision.com.
About Trimble's Railway Solutions
Trimble's railway solutions combine the latest in sensors and monitoring technologies with customized software and wireless communications enabling users to quickly and accurately capture the data needed to maintain and construct railway infrastructure or to manage rail transport assets. Trimble's solutions use integrated processes and workflows for complete railway infrastructure and asset lifecycle management. From the infrastructure planning, design, construction, and maintenance phases to the operation, maintenance and repair of rail transport assets the solutions streamline operations to keep railway projects on time and in budget.
For more information, visit: http://www.trimble.com/rail.
Trimble is transforming the way the world works by delivering products and services that connect the physical and digital worlds. Core technologies in positioning, modeling, connectivity and data analytics enable customers to improve productivity, quality, safety and sustainability. From purpose built products to enterprise lifecycle solutions, Trimble software, hardware and services are transforming a broad range of industries such as agriculture, construction, geospatial and transportation and logistics.
This press release contains forward-looking statements regarding the business operations and prospects of Trimble, including statements regarding the impact of the Beena Vision acquisition on extending and accelerating Trimble railway solutions, an expanding customer base, and synergy potential. These forward-looking statements are subject to change, and actual results may materially differ due to certain risks and uncertainties. Factors that could cause or contribute to changes in such forward-looking statements include, but are not limited to (i) realizing the anticipated benefits of the acquisition, (ii) Trimble's ability to combine Beena Vision's solutions with Trimble's rolling stock enterprise solutions to deliver more complete and innovative solutions for railway infrastructure companies and passenger train and other transport operators, (iii) Trimble and Beena Vision's ability to leverage their respective international footprints to extend the reach of their products more globally, and (iv) the risks and uncertainties associated with unexpected expenditures or assumed liabilities that may be incurred as a result of the acquisition. 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.
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808