SUNNYVALE, Calif., May 26, 2015 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today that PeopleNet, a Trimble Company, has acquired the assets of privately held Cadec Global Inc. of Manchester, New Hampshire. Cadec's pioneering driver and truck-based platforms coupled with its unique back office analytic tools enable companies to maximize the value of their foodservice and private fleets and improve customer service. The addition of Cadec will further extend the fleet mobility technology and transportation solutions of PeopleNet in the foodservice and private fleet industries to enable greater levels of safety, compliance, cost reduction and customer service. Financial terms were not disclosed.
Cadec has long been known as a leader in technology for foodservice and private fleets, providing multiple industry firsts since 1976—including the first Federal Motor Carrier Safety Administration (FMCSA)-certified automated driver logs, the first fleet management system to interface with engine control modules, the first system to interface with GPS and the first system with a graphical touchscreen.
"This acquisition combines the best of both Cadec and PeopleNet," said Brian McLaughlin, PeopleNet president. "Cadec brings its expertise in world-class Web enterprise, business intelligence and back-end analytics tools to the company, while PeopleNet brings its industry-leading mobile platforms, complementary M2M and cloud-based technologies and infrastructure along with its strong financial position. Together, our companies will leverage the enhanced expertise of both organizations to bring innovative technology and service solutions to the foodservice and private fleet industries and the transportation industry as a whole."
Known as a transportation industry visionary, Cadec's current chief customer officer Angela Shue will transition to a new role as general manager of Cadec, working with PeopleNet's leadership team to continue to offer exceptional customer service. Shue also will be responsible for working with the combined organization to develop new product innovations for the foodservice and private fleet industries.
Together, the PeopleNet and Cadec organization will employ nearly 500 professionals whose values center on solving its customers' fleet management challenges.
"When Trimble and PeopleNet considered the growth opportunities in the foodservice category, they looked to Cadec," said Shue. "Our organizations share a visionary and innovative spirit. We are excited to work together to broaden PeopleNet's presence in the market and bring a new level of safety, compliance and cost reduction solutions to our customers."
Cadec will be part of the PeopleNet business, which is reported in Trimble's Mobile Solutions segment. Cadec will continue to operate out of its Manchester, New Hampshire office.
About Cadec Global
Cadec provides up-to-the-minute driver and vehicle data to enable companies to maximize the value of their private fleets and improve customer service. The company's SaaS-based fleet management system integrates wireless communications, mobility technology and business applications to connect private fleets with their drivers and trucks for unprecedented levels of visibility, automation and supply chain management.
For more information, visit: www.cadec.com.
PeopleNet provides fleet mobility technology for North America's land transportation industry that enables greater levels of safety, compliance, cost reduction and customer service. The company's fleet mobility system combines network communications, mobility and analytics to create the next-generation standard in technology-driven fleet performance and decision-making management. Its products are used by more than 2,000 truckload, LTL, private, and energy services fleets in the United States and Canada, including several Fortune 500 companies. The company aggressively develops new products that continue to improve fleet management. PeopleNet is a Trimble (NASDAQ: TRMB) Company and part of its international Transportation and Logistics Division. PeopleNet was named as a key factor in Trimble's top ranking by ABI Research's 2014 Commercial Fleet Telematics Competitive Assessment. For more information about PeopleNet and its products, call (888) 346-3486, or visit www.peoplenetonline.com.
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.
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, PeopleNet's ability to successfully extend and improve its fleet mobility solutions in the foodservice and private fleet industries through the acquisition of Cadec's 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.