Trimble has agreed to acquire privately-held TracerNet Corporation of Chantilly, Virginia, a provider of wireless fleet management solutions, in an all cash transaction. Terms were not disclosed. Completion of the transaction, anticipated in March, is subject to the usual and customary closing conditions.
As part of the acquisition, TracerNet and Trimble’s Mobile Solutions Division will be consolidated under a new legal entity, Trimble Mobile Solutions, Inc., which will operate as a wholly owned subsidiary of Trimble.
“With this acquisition, we will focus on integrating the best features from each company to offer more diverse and complete fleet management solutions,” said Steven W. Berglund, president and CEO of Trimble.
“TracerNet’s strength lies in its ability to deeply integrate fleet information with enterprise software applications, and Trimble intends to leverage this competency beyond construction to allow us to serve large enterprise fleets.
“This combination shows our commitment to the fleet management market and it allows us to more quickly build scale as we head towards profitability in this segment.”
The announcement was made at the World of Concrete, the industry’s largest annual commercial construction show.
