Trimble (NASDAQ: TRMB) recently announced that it has entered into a definitive
agreement to acquire privately held Apache Technologies, Inc. of Dayton, Ohio,
in an all-cash transaction. Apache designs, manufactures, and distributes
professional laser products for construction leveling and alignment
applications. Closing of the transaction, anticipated in April, is subject to
usual and customary closing conditions. Financial terms were not disclosed.
Trimble expects the Apache acquisition to extend its laser product portfolio for
handheld laser detectors and entry-level machine displays and control systems.
Apache's products set new standards for performance, accuracy, ruggedness,
reliability, and repeatability in their respective markets and price ranges.
"We are pleased to join
Trimble," said Bob Conner, president of Apache
Technologies, Inc. "The acquisition will help us expand our distribution
network while continuing to serve our existing OEM customers. In addition,
Trimble and Apache will be able to fully capitalize on the unique advantages
offered by laser technology for the construction market."
"Apache is an industry leader in laser detection technologies. The company
has successfully built a strong market and technology position and has
demonstrated profitable revenue growth," said Bryn Fosburgh, vice president
and general manager of
Trimble's Engineering and Construction business segment.
"We believe that Apache will be an integral contributor to future
laser-based construction products."
Apache will operate as a wholly owned subsidiary and will be reported within
Trimble's Engineering and Construction business segment.
About Apache Technologies
Apache Technologies designs, manufactures, and distributes construction and
agricultural laser products for leveling and alignment. Established in 1991, the
company's founders and key employees are industry professionals each having more
than 20 years experience with lasers and laser detection.
Headquartered in Dayton, Ohio, Apache distributes products worldwide through
more than 200 dealers. Apache not only manufactures these products for its own
dealer network, but also manufacturers laser products for leading suppliers in
North America and Europe.
For more information about Apache Technologies, visit
www.apache-laser.com/home.htm.
About Trimble's Engineering and Construction Business
Trimble, a world leader in GPS, construction lasers, robotic total stations and
machine control solutions, is creating a broad range of innovative solutions
that changes the way construction work is done. The Engineering and Construction
business of
Trimble is focusing on the development of technology and solutions
in the core areas of surveying, construction and infrastructure. From concept to
completion,
Trimble's integrated systems streamline jobs and improve
productivity.
About Trimble
Trimble is a leading innovator of Global Positioning System (GPS) technology. In
addition to providing advanced GPS components,
Trimble augments GPS with other
positioning technologies as well as wireless communications and software to
create complete customer solutions.
Trimble's worldwide presence and unique
capabilities position the Company for growth in emerging applications including
surveying, automobile navigation, machine guidance, asset tracking, wireless
platforms, and telecommunications infrastructure. Founded in 1978 and
headquartered in Sunnyvale, Calif.,
Trimble has more than 2,000 employees in
more than 20 countries worldwide.
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. This press release
contains forward-looking statements that include risks and uncertainties
concerning the expected financial performance of the Apache Technologies
acquisition, as well as Trimble's strategic and operational plans. Actual
results may differ from those set forth in this press release due to certain
risks and uncertainties, including the ability to achieve market acceptance of
product offerings from the acquisition and the risks inherent in acquiring and
integrating a company, unanticipated expenditures and changing relationships
with customers. Among other things, economic trends and additional competitive
issues may have an adverse effect on the success of the proposed acquisition.
These and other risks are detailed from time to time in reports filed with the
SEC, including Trimble's quarterly reports on Form 10-Q and its annual report on
Form 10-K. The consummation of the acquisition is subject to certain closing
conditions and may not be consummated on the terms proposed or at all.
