Trimble Acquires NTech Industries
to Extend its Precision Agriculture Solutions Business
SUNNYVALE, Calif., June 5, 2009 — Trimble (NASDAQ: TRMB) announced today it has acquired privately-held NTech Industries based in Ukiah, Calif. NTech is a leading provider of crop-sensing technology that allows farmers to reduce costs and environmental impact by controlling the application of nitrogen, herbicide and other crop inputs. The acquisition further expands Trimble's ability to offer innovative field applications for farmers. Financial terms were not disclosed.
NTech products use optical sensing and variable rate application to apply only the inputs needed to maximize crop yield. The GreenSeeker® nitrogen application system determines the health of a plant in real time and delivers the optimum amount of nitrogen. The WeedSeeker® automatic spot-spray system senses the presence of living plants, allowing targeted and controlled herbicide application.
The systems are typically utilized with Global Positioning System (GPS) solutions and flow and application control products, both of which are supported by Trimble's precision agricultural portfolio of products.
"Trimble's focus is to provide complete agriculture solutions—from machine guidance and automated steering to application control. The acquisition of NTech gives Trimble customers even more ways to save on fertilizer and herbicide costs while reducing their impact on the environment," said Erik Arvesen, vice president and general manager for Trimble's Agriculture Division. "By applying the right amount of inputs for optimum plant growth, farmers can manage for maximum efficiency and avoid over-applying fertilizer or herbicide."
"GreenSeeker and WeedSeeker solutions are breakthroughs for variable rate application. Our technology offers farmers innovative solutions to help control fertilizer and crop protection products, which ultimately drive costs," said Ted Mayfield, NTech's chief operating officer. "We are excited to join Trimble and believe that our combined technologies will provide farmers with enhanced solutions to more efficiently manage control applications in the field."
About NTech Industries
NTech Industries, founded in the early 90's and headquarter in Ukiah, Calif., is a leading provider of optical sensors for agriculture, research, precision fertilizer applications, and weed control for industrial and commercial uses. For more information, visit: www.ntechindustries.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, Trimble is headquartered in Sunnyvale, Calif.
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, the performance of NTech crop sensing technology and products and their ability to reduce costs and environment impact for farmers; whether Trimble will be able to successfully expand its ability to offer innovative field applications through the acquisition and provide complete agriculture solutions; continued customer satisfaction and market acceptance of NTech products; the ability of Trimble to integrate NTech technology with other systems and provide enhanced solutions for control applications; and whether customers will adopt such applications, especially given the impact of worldwide recessionary conditions on 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 continuing impact of the current global recession. 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.
Investor Relations Contact: Willa McManmon of Trimble: 408-481-7838
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808