SUNNYVALE, Calif., Jan. 5, 2017 /PRNewswire/ -- Trimble (NASDAQ:
TRMB) announced today that it has entered into a definitive
agreement to sell its Woburn,
Mass. -based ThingMagic RFID business to Novanta Inc.
(NASDAQ: NOVT) for $20 million in
cash. Novanta is a global leader and supplier of photonics,
precision motion and vision technologies to original equipment
manufacturers (OEMs) in the medical and advanced industrial
markets. The transaction, subject to customary closing conditions,
is expected to close in the first quarter of 2017.
ThingMagic's RFID operations and product portfolio will be
combined with Novanta's JADAK business. JADAK is a market-leading
provider of embedded data collection and printing solutions for
medical OEMs serving the healthcare and life science markets.
"This transaction is consistent with our strategy to focus our
efforts on domain-specific connected solutions in our core
markets," said Michael Lesyna, vice
president of Trimble. "We believe that we can create more value and
sustainable differentiation by focusing on the software, data and
sensor integration for solutions that leverage RFID versus owning
and developing the technology."
The ThingMagic Division has been reported as part of Trimble's
Advanced Devices segment. The divestiture will not have a material
impact on either overall or segment financial results.
Partnering for RFID Technology
In addition, Novanta and JADAK will become the preferred
provider of RFID technology for use in Trimble's solutions across a
variety of vertical markets including construction, mobile
computing, rail and others.
"Working together, Novanta and JADAK can deliver
industry-leading RFID technology that will allow Trimble to focus
on its core software and information technology that integrates
positioning capabilities," said Lesyna. "The end goal is to deliver
a complete solution to transform work processes and efficiency for
our customers."
"By combining the resources and RFID-based technologies of JADAK
and ThingMagic, Novanta will be uniquely positioned to be a leading
provider of high-performing RFID solutions for mission critical
applications to OEMs within the healthcare industry," said
Matthijs Glastra, chief executive
officer of Novanta Inc. "ThingMagic broadens our portfolio of
solutions in a high-growth technology area, while giving us the
resources to address the growing need for improvements in workflow
solutions, patient safety, anti-counterfeiting, and asset tracking
in a medical environment. In addition, we are extremely excited to
support Trimble by providing RFID technology for its
solutions."
About JADAK
Headquartered in Syracuse, New
York, JADAK has a wide array of data collection products and
services, including machine vision, RFID, bar code scanning, and
thermal printers that help customers solve unique inspection,
tracking, scanning and documenting challenges. JADAK has
established itself as a strategic partner for today's top
healthcare companies through its flexible, customer centric
approach and its wide range of capabilities.
About Novanta
Novanta is a leading global supplier of core technology
solutions that give advanced industrial and healthcare OEMs a
competitive advantage. We combine deep expertise at the
intersection of photonics and motion with a proven ability to solve
complex technical challenges. This enables Novanta to engineer core
components and sub-systems that deliver extreme precision and
performance, tailored to our customers' demanding applications. We
deliver highly engineered photonics, vision and precision motion
solutions to customers around the world. The driving force behind
our growth is the team of innovative professionals who share a
commitment to innovation and customer success. Novanta's common
shares are quoted on NASDAQ under the ticker symbol "NOVT."
More information about Novanta is available on the company's
website at: www.novanta.com.
About Trimble
Trimble is transforming the way the world works by delivering
products and services that connect the physical and digital worlds.
Core technologies in positioning, modeling, connectivity and data
analytics enable customers to improve productivity, quality, safety
and sustainability. From purpose built products to enterprise
lifecycle solutions, Trimble software, hardware and services are
transforming a broad range of industries such as agriculture,
construction, geospatial and transportation and logistics. For more
information about Trimble (NASDAQ:TRMB),
visit: www.trimble.com.
This press release contains forward-looking statements
regarding the business operations and prospects of Trimble,
including the impact of the ThingMagic divestiture. These
forward-looking statements are subject to change, and actual
results may materially differ due to certain risks and
uncertainties. Factors that could cause or contribute to changes in
such forward-looking statements include, but are not limited to
timely satisfaction of various conditions to closing the
divestiture, and whether the divestiture is completed on the
intended timeline, or at all. More 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.
GTRMB
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SOURCE Trimble