Trimble to Acquire the Assets of Asset Forestry Limited to Extend its Logistics Capabilities
SUNNYVALE, Calif., Sept. 19, 2013 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today that it has entered into a definitive agreement to acquire the assets of privately-held Asset Forestry Limited (Asset), a provider of forestry logistics software and services. The addition of Asset's software and domain experience extends Trimble's portfolio of forestry logistics and optimization solutions, already in use in North America and Europe. Financial terms were not disclosed. The acquisition is expected to close by the end of September 2013.
Asset is a provider of timber dispatch technology and services. Asset's WSX logistics system drives timber transportation productivity and streamlines supply chain management to optimize returns on timber.
"The addition of Asset's technology and domain expertise further strengthens Trimble's position as a global leader in forestry solutions," said Ken Moen, general manager of Trimble's Forestry Division. "In addition, many of Asset's existing customers will be able to leverage Trimble's broad range of solutions including field hardware and software solutions for data collection as well as enterprise solutions for record keeping, forestry management and log accounting to improve productivity and operations."
"Effectively managing the fiber supply chain is critical to competitiveness in the industry. Our customers see optimized logistics as a key component to maximizing returns from their timber resources," said Matt Ludbrook, general manager of Asset Forestry Limited. "We also anticipate that they will realize synergies from the solutions that Trimble offers."
The Asset business will be part of the Forestry Division and reported as part of Trimble's Mobile Solutions Segment.
Trimble has a history of operations in New Zealand since the acquisition of Christchurch-based Datacom Software Research Limited in 1991. With the recently purchased Auckland-based Actronic Technologies and Christchurch-based IQ Irrigation, Trimble New Zealand has grown and will now have more than 300 employees across the country.
About Asset Forestry Limited
Asset Forestry Limited is a specialist in the forestry logistics business. Established in New Zealand in 1993, its staff has extensive experience in the application of logistics information technologies to timber supply operations.
Asset serves the forest industry with a platform of proprietary systems and services that support the management of timber harvesting and delivery activities. Over the past decade it has completed more than 30 successful implementations of its inventory, distribution and transaction management solutions. Management systems developed by Asset have been integrated into the business of some of the world's leading forestry organizations.
For more information, visit the Asset Forestry Limited's Web site at: http://www.asset.co.nz.
About Trimble's Forestry Division
Trimble's Forestry Division offers field hardware, field software and enterprise solutions that improve the productivity and operations for some of the world's largest integrated forest product companies, forest land owners, international food processing companies and conservation organizations as well as small and medium-sized businesses and state and federal departments involved in soil, water and biodiversity protection.
For more information, visit: www.trimble.com/forestry.
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: www.trimble.com.
This press release contains forward-looking statements regarding the business operations and prospects of Trimble, including the timing of the Asset Forestry Limited ("Asset") acquisition closing, and its impact on Trimble's Forestry Division. 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 (i) successfully completing the acquisition of Asset, (ii) realizing the anticipated benefits of the acquisition, (iii) Trimble's ability to successfully integrate Asset's technology and domain expertise with Trimble Forestry's portfolio of products, (iv) whether customers of Asset's will leverage Trimble's broad range of other solutions, and (v) the risks and uncertainties associated with unexpected expenditures or assumed liabilities that may be incurred as a result of the acquisition and retaining Asset's personnel and customers. 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.