SUNNYVALE, Calif., June 14, 2011 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today it has acquired Yamei Electronics Technology, Co. Ltd, a Chinese wholly foreign owned entity (WFOE) of Digisec Group of the Caymans. Yamei manufactures automotive electronics products used for anti-theft GPS monitoring and tracking, RFID-based smart key and start and on-board diagnostics systems. Yamei serves large customers such as SGM China, Geely, KYB (Japan), Shanghai 1Hai Car Rental Company, Toyota Logistics, and Gaungzhou Hino Motors among others. The acquisition is expected to expand Trimble's solutions for the automotive and other markets and allow the company to better address markets in China, Asia Pacific and India. Financial terms were not disclosed.
Yamei's solutions include its ALL-WAY brand of aftermarket vehicle wireless entry and tracking products. For on-board diagnostics, Yamei's Eco-Way™ navigation and telematics device features Eco:Drive and Eco:Route applications that monitor driver behavior and vehicle performance, and provide wireless Internet access. Eco:Drive shows drivers in real-time their fuel usage and carbon emissions and provides advice on how to improve gas mileage and reduce emissions. Eco:Route tells drivers the most fuel efficient route to drive from start to destination.
"Our innovative technologies for automotive vehicle security and tracking combined with Trimble's telematics experience is an exciting combination as we look forward to the future of the business," said Chander Oberoi, CEO of Yamei Electronics. "We are proud to be part of Trimble and look towards expanding our product reach beyond China into the entire Asia Pacific region."
"The Yamei acquisition broadens our portfolio of telematics solutions that can be leveraged across Trimble and underscores our continued commitment to the Chinese market," said Bryn Fosburgh, Trimble vice president. "We look forward to building on the solid foundation that Digisec and Yamei have created as we expand Trimble's presence in China and throughout the Asia Pacific region."
The Yamei business will be reported as part of the Mobile Solutions segment.
About Yamei Electronics
Yamei Electronics Technology Company is based in Beijing, China and was founded in Changchun, China in August 2001. The company designs and manufactures its products locally and distributes them across China through its network of more than 1,500 4S automotive dealerships, 80 distribution and sales agents, and eight OEM customers. In addition, Yamei distributes its products through partners in Malaysia and the U.S. Yamei Electronics solutions are based on diverse wireless technologies, from short-range wireless data retrieval to long-range wireless for data transfer and control systems as well as smart vehicle entry and security systems to wireless vehicle control and location systems. Partnering with some of the leading operators of wireless networks such as China Mobile and China Unicom, Yamei offers value-added automotive solutions that make its customers' lives more convenient and vehicles more secure.
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 successfully integrate the Yamei business, and expand Trimble's telematics solutions and market presence in China, Asia Pacific and India. 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. 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.