Trimble Acquires Trade Service to Enhance Content Delivery Across Trimble Buildings Solution Portfolio
SUNNYVALE, Calif., June 4, 2013 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today it has acquired privately-held Trade Service Company, LLC based in San Diego, California from the GF Capital Private Equity Fund, LP and senior management. Trade Service is a leader in content acquisition, aggregation, management, publishing and distribution of product and pricing information used by manufacturers, distributors and contractors in the Architecture, Engineering, and Construction (AEC) industry. Financial terms were not disclosed.
The Trade Service suite of content and pricing solutions, used by over 20,000 clients, allows distributors and contractors of all sizes instant access to current product pricing and specification data within a Web-based environment. As a subscription service, contractors can log into the system to search and find products, compare pricing from hundreds of manufacturers and choose the best component(s) for their estimate. Also offered as a service through the Trade Service API, the specification and pricing data can be used by third-party software vendors to extend functionality into existing estimating and pricing solutions.
"Real-time specification and pricing information are key elements to the construction bidding process as well as the overall building construction lifecycle," said Bryn Fosburgh, Trimble vice president, "Tightly integrating Trade Service data into Trimble's estimating solutions as well as using the information to extend the value of BIM data to the owner is a strategic goal of connecting key workflows across the design, build and operate continuum."
"Adding efficiency and accuracy to the bidding and estimating process has been, and will continue to be, one of our core values," said Tony Dubreville, president and CEO of Trade Service. "Integrating our extensive data solutions with the Trimble Buildings product line will provide the marketplace with valuable solutions that go beyond what is available today. Working together we can serve the entire supply chain from manufacturers through the end user with richer content, while streamlining commerce with optimal speed and efficiency. We're excited to contribute our expertise and comprehensive databases to serve as complete solutions for Trimble's clients, as well as enhancing our offering to our Trade Service customer base."
"We have been proud to be partners with Trade Service, and we believe that the Company is an ideal fit with Trimble to continue its long standing history and growth within the markets it serves," said Erik Baker, co-founder and managing director of GF Capital.
The Trade Service business will be reported as part of the Engineering and Construction segment.
About Trade Service
Trade Service is the leading provider of standardized product and price information to the mechanical, electrical, plumbing, industrial, automotive, and office products industries. Since 1931, the company has been the leader in content acquisition, management, and distribution, offering a variety of products/services to meet customer needs. Over 21,000 manufacturers, distributors, contractors, and government agencies rely on Trade Service. The range of solutions provided includes printed directories, software, product and pricing data for business system updating, and robust attributed content to fuel full-functioning Internet storefronts.
For more information, visit www.tradeservice.com.
About Trimble Buildings Group
Trimble Buildings, a part of Trimble's Engineering and Construction segment, is a world leader in construction project optimization across the design-build-operate (DBO) lifecycle. By providing intuitive software and field solutions that span the brands of Meridian Systems, Plancal, SketchUp, Tekla, Vico Software and WinEst, Trimble is dedicated to helping building owners and AEC service providers improve productivity, increase efficiencies and maximize profitability of construction projects across the entire workflow from simulation to renovation. Used in over 141 countries around the world and supported by a global dealer and distribution partner network, precision Trimble technology is a mainstay of the building industry. Trimble Buildings' leading technology platform, Trimble DBO, draws on unparalleled expertise from across the entire continuum to provide building professionals with a comprehensive solution that responds to their specialized needs while benefiting from an understanding of the total workflow at every step.
For more information, visit: Trimble Buildings.
Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location—including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978, Trimble is headquartered in Sunnyvale, Calif.
For more information, visit Trimble's Web site at 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 Trade Services and to successfully integrate Trade Service data and solutions with the Trimble Buildings product line. Additional risks and uncertainties include the risks inherent in integrating an acquisition, including unanticipated expenditures, charges or assumed liabilities that may result from the acquisition and retaining key personnel and commercial relationships. 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.