Trimble Navigation Limited
935 Stewart Drive
Post Office Box 3642
Sunnyvale, CA 94085
Trimble to Acquire Tripod Data Systems to Enhance Position in
SUNNYVALE, Calif., September 21, 2000 -- Trimble Navigation Limited (Nasdaq: TRMB), a worldwide leader in the development of innovative Global Positioning Systems (GPS) technology-based products, today announced that it has entered into a definitive agreement to acquire Tripod Data Systems (TDS) of Corvallis, Oregon. TDS is a leading developer of data collection software for the land survey, construction and Geographic Information System (GIS) markets.
The TDS acquisition is valued at less than $15 million and is payable in Trimble stock at the date of close. The acquisition will be accounted for as a purchase transaction, and based on today's stock price is expected to increase earnings per share beginning in the year 2001. Closing of the transaction, anticipated by the end of fiscal fourth quarter of 2000, is subject to usual and customary closing conditions. Further details of the agreement were not disclosed.
TDS has three core business components. The company develops software for data collection applications, manufactures rugged Windows CE-based handheld data collectors such as their TDS Ranger, and develops software for pen computer applications through its PenMetrics business unit.
"TDS will strengthen our current position in the land survey, construction and GIS segments and provide capabilities for their applications," said Steven W. Berglund, president and chief executive officer. "In addition, this acquisition will reinforce Trimble's strategy of combining position, wireless communication and data into solutions for our targeted markets."
This release may contain forward-looking statements based on current expectations. Among other statements, the expectation of increase to the earnings per share involves a number of risks and uncertainties. Other potential risks and uncertainties that could cause actual results to differ materially are included in the SEC filings, including Form 10-K and Form 10-Q for Trimble.
About Tripod Data Systems
Tripod Data Systems, Inc., (TDS) is recognized as the leading developer of data collection and PC software for geomatics professionals. TDS is dedicated to bringing to market the most innovative, easy-to-use programs for field professionals who are involved with collecting and processing spatial data. Tripod Data Systems provides integrated and comprehensive hardware and software solutions. The twelve-year-old company has headquarters in Corvallis, Ore.
Founded in 1978, Trimble is a recognized worldwide leader in the development of innovative Global Positioning System (GPS) technology-based products for a wide range of applications. Today, these advanced solutions combine GPS with wireless communications and sophisticated software to meet demanding applications in environments ranging from agriculture and construction to asset management, automotive and timing. Headquartered in Sunnyvale, Calif., Trimble provides end-users and OEMs with leading edge solutions backed by global leadership in patents, exceptional experience and a reputation for excellence.
With its acquisition of Spectra Precision, a leading provider of construction lasers, machine control systems, optical surveying instruments and related software, Trimble now broadens its portfolio of positioning solutions for the engineering and construction, and agriculture markets.
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808