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Toolz, Ltd. Settles Patent Lawsuit with Trimble
SUNNYVALE, Calif., Dec. 4, 2003 -- Trimble (NASDAQ:TRMB) announced today that it has settled a patent infringement lawsuit which was pending against Toolz, Ltd. The lawsuit alleged that Toolz' laser level products infringe five of Trimble's U.S. patents. As part of the settlement, Toolz has entered into a nonexclusive license agreement pursuant to which Toolz has agreed to pay Trimble a lump-sum licensing fee, as well as royalties based on future sales of certain Toolz products. Financial details of the settlement were not disclosed.
Trimble has a portfolio of more than 100 pending and issued patents worldwide, covering various optical products used in construction instruments, machine control, survey and related technology. Its total portfolio exceeds 700 patents and pending applications.
Trimble is a leading innovator of Global Positioning System (GPS) technology. In addition to providing advanced GPS components, Trimble augments GPS with other positioning technologies as well as wireless communications and software to create complete customer solutions. Trimble's worldwide presence and unique capabilities position the Company for growth in emerging applications including surveying, automobile navigation, machine guidance, asset tracking, wireless platforms, and telecommunications infrastructure. Founded in 1978 and headquartered in Sunnyvale, Calif., Trimble has more than 2,000 employees in more than 20 countries worldwide.
This press release contains statements of a forward-looking nature relating to future events or future financial results of Trimble Navigation Limited. Investors are cautioned that such statements are only predictions and that actual events or results may differ materially. In evaluating such statements, investors should specifically consider various factors, which could cause actual events or results to differ materially from those indicated from such forward-looking statements, including the matters set forth in Trimble's reports and documents filed from time to time with the Securities and Exchange Commission.
Investor Relations Contact: Investor Relations of Trimble: (408) 481-6914
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808