Trimble To Acquire Canadian GPS Company
Sunnyvale, Calif.-based Trimble [Nasdaq: TRMB] has agreed to acquire privately held Applanix, an Ontario, Canada-based Global Positioning System (GPS) device maker, in a stock transaction valued at C$25 million (US$18.6 million). Closing of the transaction, anticipated in the next three weeks, is subject to usual closing conditions.
Trimble expects the Applanix acquisition to extend its technology portfolio and enable increased capabilities in its future positioning products. An early focus will be in the survey and construction product lines where GPS offers the potential of improved satellite tracking and faster reacquisition times for precision real-time kinematic positioning. This is important in cases where GPS satellite signals are obstructed in difficult environments such as high-rise urban or heavily forested areas.