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Trimble Closes Tripod Data Systems Acquisition
SUNNYVALE, Calif., Nov. 16, 2000 - Trimble (NASDAQ:TRMB) announced today that it has completed the acquisition of Tripod Data Systems (TDS), a leading developer of data collection software for the land survey, construction and Geographic Information System (GIS) markets. TDS will operate as a wholly owned subsidiary and retain its offices in Corvallis, Oregon.
The acquisition, which was initially announced on September 21, 2000, will be accounted for as a purchase transaction. The purchase price was less than $15 million and paid in shares of Trimble's common stock.
"Information is fundamental to Trimble's strategy of integrating position, wireless communications and data to create dynamic position-centric solutions," said Steven W. Berglund, president and chief executive officer. "The move to acquire TDS reinforces our information strategy by bringing a strong software capability, a low-cost data collection hardware platform and an enhanced pen-based computing solution. These competencies will strengthen Trimble's ability to aggressively address a number of targeted markets including land survey, construction and GIS."
"TDS is very excited to become a part of Trimble and help reinforce the company's leadership position in data collection. There are important synergies between Trimble's vision, its current market position and TDS's software data collection expertise," said David Scribner, president of TDS. "TDS will continue to develop and distribute TDS brand products through its existing distribution channels. Through Trimble, TDS plans to expand into new markets and strengthen its core markets with access to new resources, technologies and an enhanced distribution channel. We look forward to applying our developmental capabilities toward the execution of Trimble's ongoing business strategy."
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.
This release contains forward-looking statements, based upon current expectations involving a number of risks and uncertainties, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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 12 year-old company has headquarters in Corvallis, Ore.
For more information, visit the TDS Web site at: http://www.tdsway.com
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 markets 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 innovation, exceptional experience and in-depth applications knowledge as well as 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