Posted on 26.05.2011 - 13:00 EDT in ACQUISITION/MERGER NEWS by Rons_ROV_Links
Trimble enters into definitive agreement to acquire Ashtech to expand its Spectra Precision GNSS portfolio of survey solutions
Trimble announced today it has entered into a definitive agreement to acquire privately-held Ashtech S.A.S., headquartered in Carquefou, France, and its affiliates. The acquisition is expected to expand Trimble's Spectra Precision portfolio of survey solutions and allow the company to better address emerging markets worldwide. Closing of the transaction, anticipated in the second quarter, is subject to certain closing conditions. Financial terms were not disclosed.
"With the acquisition of Ashtech, survey and construction professionals using Spectra Precision's range of surveying solutions should be able to enjoy an even more comprehensive set of GNSS instruments to meet their daily job requirements," said Joe Denniston, vice president of Trimble's Spectra Precision Business. "Combining Ashtech's wide portfolio of GNSS products with Spectra Precision's global distribution network can provide surveyors exciting new choices for optimal efficiency."
"Trimble's acquisition of Ashtech is an ideal fit for both organizations. Our innovative GNSS portfolio and expertise complements Spectra Precision's powerful brand and global reach," said Francois Erceau, vice president and general manager of Ashtech. "The acquisition should benefit Ashtech's existing customers in the markets we serve and enhance our ability to support them with an even broader portfolio moving forward."
The operating results of the acquired business will be reported within Trimble's Engineering and Construction segment.