SUNNYVALE, Calif., June 13, 2017 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today that it has acquired privately-held Innovative Software Engineering (ISE), an engineering and systems integration firm that delivers innovative, end-to-end Internet of Things (IoT) and telematics solutions, enterprise mobility applications and tailored software solutions headquartered in Coralville, Iowa. The acquisition expands Trimble's fleet safety and compliance solutions and allows Trimble to offer electronic logs as a service. Financial terms were not disclosed.
Trimble serves multiple industries that require compliance with the upcoming Electronic Logging Device (ELD) mandate, including customers in transportation and other industries. The mandate, which requires certain fleets to electronically log hours of service (HOS) data, will go into effect in December 2017. According to the Federal Motor Carrier Safety Administration (FMCSA), the ELD mandate is expected to impact 3.4 million drivers across the United States.1
"ISE's broad industry expertise and innovative solutions extend Trimble's capabilities in providing fleet safety and compliance," said James Veneziano, senior vice president, Trimble. "By acquiring ISE, we can further develop comprehensive solutions and services to enable our customers to realize improved efficiencies and greater levels of safety within their organization."
The addition of ISE allows Trimble to combine research and development efforts to provide customers with a robust and compliant ELD solution. ISE provides its electronic logs as a service to a variety of businesses that provide a logging solution to a broad range of customers, including those in oil and gas transportation, agriculture and construction as well as private and for-hire fleets. Trimble's Construction Logistics and Field Service Management businesses currently provide electronic logging solutions as a service through ISE's eFleetSuite, a commercial-grade telematics platform that manages HOS and vehicle maintenance compliance.
"For more than 15 years, ISE has dedicated itself to providing enterprise and tailored software solutions to its clients. Our Fleet Services products provide fleets with end-to-end solutions that solve complex safety and compliance issues," said Hass Machlab, founder, president and CEO of ISE. "In joining Trimble, we look forward to being part of an organization that shares this dedication and leveraging synergies that will enable continued innovation to benefit all of our customers."
ISE's business will be reported as part of Trimble's Transportation Segment.
About Innovative Software Engineering
Innovative Software Engineering (ISE) is an engineering and systems integration firm that delivers innovative, end-to-end mobile and enterprise solutions. ISE's business includes:
- Professional Services offers clients a complete spectrum of software engineering services, including IoT/Telematics, Big Data, Cloud, Mobile App Development, and Agile Consulting.
- Fleet Services leverages decades of transportation technology expertise to offer a configurable end-to-end solution to manage drivers' hours of service and vehicle maintenance compliance, which enables a safer, more profitable operation.
For more information on ISE, visit: http://iseinc.biz.
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.
Certain statements made in this press release are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, and actual events and results may differ materially from those described in this news release. Factors that could cause or contribute to such differences include, but are not limited to, Trimble's ability to realize the anticipated benefits from the acquisition of ISE, and to successfully expand its fleet safety and compliance solutions, including offering ELD compliant solutions. Additional risks and uncertainties include: the risks inherent in integrating an acquisition; unanticipated expenditures, charges or assumed liabilities that may result from the acquisition; and retaining key personnel and commercial relationships. 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.
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