SUNNYVALE, Calif. -- Trimble has entered into a definitive agreement to acquire privately-held TMW Systems for $335 million. TMW's enterprise software currently integrates with Trimble's T&L solutions on many fleets and when combined will jointly serve more than 3,000 fleets around the world, officials announced. TMW is based in Beachwood, Ohio and has 500 employees. The company will be reported within Trimble's Mobile Solutions segment.
"Trimble's global presence will provide a strong channel for extending TMW's reach and scope, beyond its leading position in North America," said David Wangler TMW's president and CEO. "Together, our complementary technologies can deliver exceptional return on information that improves our customers' operational efficiencies and allows them to deliver superior customer service. We look forward to becoming a part of Trimble and providing our customers a comprehensive and integrated end-to-end solution for transportation management."
"This highly synergistic combination provides the potential for creating uniquely innovative solutions for the customer. In addition to a shared market vision focused on customer value, TMW brings a history of robust double-digit growth, invention and strong financial performance," said Ron Konezny, general manager of Trimble's T&L division. "With more fleets deploying information-based solutions to improve business performance, the tight integration enabled by this transaction can offer a more comprehensive and seamless solution, enabling a continuous flow of information between customer, shipper, carrier and driver."
The all-cash purchase price of $335 million will be financed through Trimble's existing credit facility. The transaction is expected to close in the fourth quarter of this year, subject to customary closing conditions. TMW's reported trailing twelve-month revenue is approximately $96 million.