Trimble Navigation to Acquire TMW Systems (TRMB)

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Trimble Navigation Ltd. (NASDAQ:TRMB) revealed on Monday that it is about to acquire TMW Systems Inc, a specialized software maker for transportation and logistics industries, in an all cash deal worth $335 million.

TMW’s software not only helps in storing and analyzing data but it also acts as core through which vital operations of transportation companies are handled thereby automating  the entire business process and helping improve the operational efficiency.

TMW, a Beachwood, Ohio-based Company, currently employs 500 people and its preceding year’s revenue stood at $96 million.

TRMB said that it expects to finance this deal from its existing credit facilities. The company expects to complete the acquisition in the fourth quarter.

According to the Ron Konezny, Trimble’s General Manger in Transportation and Logistics division, TMW has a sustained record of posting doubled digit growth; besides it will also bring history of innovations and strong financial performance.

The deal is likely to impact company’s fourth quarter profit by 1 to 3 cents a share; however, in the fiscal 2013, the company expects the acquisition will help in adding 12 to 14 cents a share on its adjusted earnings.

Trimble Navigation is in a business of making equipments used for mapping, surveying, and marine navigation. Earlier in April, it announced plans to acquire Google Inc.’s (NASDAQ:GOOG) SketchUp 3D modeling platform for an undisclosed sum.

 

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