QuickPen International has been acquired by Trimble (NASDAQ: TRMB), a leading global provider of diverse technology solutions to several industries including Engineering and Construction, survey, agriculture, fleet and asset management, public safety, and mapping. An official press release has been issued by Trimble announcing our acquisition and can be reviewed in its entirety by visiting the Trimble Web site, at http://www.trimble.com/news/release.aspx?id=031209a.
This acquisition brings together two industry leaders with complementary market strategies and product offerings, and I would like to provide some perspective on how this strategy will ultimately benefit all QuickPen customers.
For over 30 years, Trimble has created unique positioning products that help customers grow their business. Though best known for GPS technology, Trimble integrates a wide range of positioning technologies including GPS, GLONASS, laser, and optical as well as inertial technologies with application software, wireless communications, and services to offer complete solutions. The company's portfolio includes over 850 patents and serves as the basis for the broadest positioning solutions offerings in the industry. An internationally diversified company, Trimble generated more than $1.3 Billion dollars in revenue in 2008.
For QuickPen, the acquisition by Trimble provides a long-term business partner with a successful track record, solid financial backing, and a global footprint. QuickPen can leverage this organizational infrastructure to further expand our product offerings, penetrate key vertical markets, and to expand our solutions on a global basis.
Trimble sees value in QuickPen's 25-year relationship with the Mechanical / Plumbing / HVAC Specialty Contractor market segments, and history of solid technology innovations. The QuickPen acquisition provides growth and further diversification to Trimble's business and strategic initiatives.
QuickPen supports Trimble's strategy to transform the way work is done through innovative application of technology. Together, QuickPen and Trimble can provide deeper, richer technology solutions that improve margin gains and productivity for both its customers. More detailed information on Trimble can be found by reviewing the latest annual report, accessible via the Trimble Web site at http://investor.trimble.com/annuals.cfm.
QuickPen will operate as part of the Trimble Building Construction Business Area, utilizing its own brand and maintaining its employee base in Colorado, Maryland, and Tennessee. This ensures a continued focus and commitment to our QuickPen customers and the solutions provided to them.
I look forward to being a part of this new chapter in QuickPen's history, because it allows us to bring new solutions to our business partners in the HVAC industry and accelerate growth opportunities for our products and services on a global scale. Stay tuned for more details from QuickPen and Trimble as our relationship develops over the coming year!
03/12/2009 - Trimble Acquires QuickPen to Expand its Building Construction Solutions
Trimble Acquires QuickPen to Expand its Building Construction Solutions