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Trimble to Acquire WinEstimator to Extend Meridian Systems' Capabilities
Acquisition Adds Estimating Software Solutions to Meridian Systems' Portfolio
SUNNYVALE, Calif., July 2, 2012—Trimble (NASDAQ: TRMB) announced today that it has entered into a definitive agreement to acquire WinEstimator, Inc. (WinEst), a provider of construction cost estimating and cost-modeling software. The transaction is expected to close in the third quarter of 2012, subject to customary closing conditions. WinEst will be integrated into the operations of Meridian Systems, a wholly-owned subsidiary within Trimble's Engineering and Construction segment. Financial terms were not disclosed.
WinEst features a team of 25 industry professionals dedicated to providing estimating and cost modeling solutions to builders and capital project owners. The company's offerings include the WinEst product line that provides a suite of estimating solutions, allowing customers to quickly and accurately respond to all phases of the estimating process, from initial project feasibility to detailed final estimate.
WinEst also provides Modelogix, a solution for capital project owners and builders who develop accurate conceptual cost models based on cost-history data from multiple sources. Modelogix leverages the value of project cost history across the enterprise, integrating the customer's past estimates and "actual" project costs to form an accurate conceptual budget.
The acquisition is expected to extend Meridian's capabilities for general contractor and owner customers that want to better develop, manage and leverage their construction cost information to support their core business. In addition, WinEst solutions will support the integration of cost data into other applications, including Meridian's Prolog® and Proliance® software, enabling the adoption of Building Information Modeling (BIM) and Integrated Project Delivery (IPD) business practices.
"The acquisition will allow Meridian to provide a broader range of solutions to general contractors and building owners executing projects around the globe," said Geene Alhady, general manager of Meridian Systems, a Trimble Company. "Industry trends including BIM and IPD are driving more innovation in construction management software solutions, and now we are better positioned to support our customers and markets."
"Together our solutions will improve the flow of construction cost data throughout the project lifecycle, and allow our joint customers to get increased value from their BIM investments," said Steve Watt, CEO of WinEst. "By joining with Meridian, we can improve solution interoperability between BIM data, estimating and project management solutions for all key stakeholders—owners, general contractors, specialty trades."
About WinEstimator, Inc.
Since 1992, WinEst has been dedicated to bringing its clients powerful, accurate and flexible cost-estimating software. WinEst serves a wide variety of customers from small builders and remodelers, to multi-office general contractors, specialty trades, building owners and public agencies. WinEst is an award-winning leader in cost estimating and cost-modeling software, with 5,000 clients in more than 80 countries.
For more information, visit the WinEst website at www.winest.com.
About Meridian Systems
Meridian Systems, a Trimble Company (NASDAQ: TRMB), is the Plan-Build-Operate technology solutions leader for project-based organizations. Building owners, construction and engineering firms, and public agencies use Meridian software to effectively manage capital building and facility renovation programs. In 2011, Meridian secured the top spot among off-the-shelf project management software used by the construction industry*. Meridian also is a pioneer in combining plan-build-operate features on an open technology platform to provide infrastructure lifecycle management solutions for capital building owners.
For more information, visit the Meridian Systems' Web site at: www.meridiansystems.com.
*2011 IT Playbook, Constructech Magazine
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 satisfaction of conditions to closing the acquisition and the timing of such closing; and Meridian's ability to integrate WinEst into other applications and increase the value of its solutions to customers. Additional risks and uncertainties include: the risks inherent in integrating an acquisition; unanticipated expenditures, charges or assumed liabilities that may result from the acquisition; and retaining key personnel and commercial relationships. 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.