WESTMINSTER, Colo., Jan. 3, 2024
/PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today that it
has completed the sale of select remote water monitoring hardware
and software, inclusive of the Telog brand of RTUs (remote
telemetry units), and Trimble Unity Remote Monitoring software to
Badger Meter, Inc. The divestiture is in line with Trimble's
strategy to focus on areas core to its long-term growth and
strategic product roadmap. Financial terms were not
disclosed.
"We are continually evaluating our product portfolio as we work
on the execution of Trimble's Connect and Scale strategy," said
Rob Painter, president and CEO of
Trimble. "This sale of our remote monitoring solution to Badger
Meter enables growth strategies for both businesses."
Trimble will retain its water-related businesses that serve
marine construction, infrastructure monitoring and surveying. The
divested assets provide real-time monitoring hardware and software
targeted at distributed data collection for applications in water,
wastewater, stormwater and environmental water monitoring. The
Telog data recorders provide real-time monitoring capabilities for
water and wastewater municipalities and service providers, and when
combined with the Trimble Unity Remote Monitoring software, provide
a single view into users' operations.
"This acquisition fits perfectly into our strategic growth
laneways," said Kenneth C.
Bockhorst, chairman, president and CEO at Badger Meter. "The
bundling of additional hardware-enabled software for network
monitoring enhances the scope of data, information and analytics
enabling our customers to be more efficient, resilient and
sustainable – saving money, improving asset performance and
reducing risk across their entire enterprise."
About Trimble
Dedicated to the world's tomorrow,
Trimble is a technology company delivering solutions that enable
our customers to work in new ways to measure, build, grow and move
goods for a better quality of life. Core technologies in
positioning, modeling, connectivity and data analytics connect the
digital and physical worlds to improve productivity, quality,
safety, transparency and sustainability. From purpose-built
products and enterprise lifecycle solutions to industry cloud
services, Trimble is transforming critical industries such as
construction, geospatial, agriculture and transportation to power
an interconnected world of work. For more information about Trimble
(NASDAQ:TRMB), visit: www.trimble.com.
This press release contains forward-looking statements
regarding Trimble, its growth strategies, and the impact of the
divestiture. These forward-looking statements are subject to
change, and actual results may materially differ due to certain
risks and uncertainties. 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.
FTRMB
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SOURCE Trimble