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Trimble Acquires Refraction Technology Assets to Extend its
SUNNYVALE, Calif., Oct. 5, 2012—Trimble (NASDAQ: TRMB) announced today that it has acquired assets of privately-held Refraction Technology, Inc. (REF TEK) of Plano, Texas, a leading provider of seismic sensors and high-frequency data logging systems. The asset acquisition is expected to extend Trimble's infrastructure solutions for scientific research and monitoring applications. Financial terms were not disclosed.
REF TEK provides seismometers, seismic recorders, motion recorders, accelerometers and software for seismic and earthquake engineering systems to government, scientific research and structural monitoring organizations. The systems are used for earthquake hazard mitigation, emergency response and warning assessment, construction code and land use planning as well as oil, gas and mining exploration.
"The addition of REF TEK's products augment Trimble's traditional role in seismic monitoring and extend our portfolio of infrastructure solutions," said Ulrich Vollath, general manager of Trimble's Infrastructure Division. "By combining GPS, seismic sensors and associated software, Trimble will be able to provide complete solutions that serve as a central data integration hub for multiple sensors to address a wide range of monitoring applications."
"We are extremely excited to be a part of Trimble. Integrating our core, market-leading technologies — GNSS for Trimble and seismic data loggers for REF TEK — will make it possible for customers to coherently measure both static and dynamic motion," said Paul Passmore, CEO of REF TEK. "We will continue to produce superior instruments for the earth science community with the advantage of leveraging Trimble's global resources."
The REF TEK business will be reported in Trimble's Engineering and Construction segment.
About Refraction Technology
Refraction Technology, Inc. produces digital recording instruments for imaging studies and earthquake research applications. The company offers high-resolution broadband seismic and strong motion recorders that collect seismic data for monitoring earthquakes and micro seismic events. REF TEK also provides sensors, and command/control and processing software solutions. Its products are designed for unmanned field-portable seismic recording applications. Founded in 1975, Refraction Technology is based in Plano, Texas.
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.
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, Trimble's ability to successfully integrate REF TEK's products and services with Trimble solutions, maintain quality and improve future product offerings, and otherwise realize the anticipated benefits of the asset acquisition. 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.
Investor Relations Contact: Willa McManmon of Trimble: 408-481-7838
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808