Trimble to buy logistics software maker for $355 million
(Reuters) - Trimble Navigation Ltd (TRMB.O) agreed to buy privately held TMW Systems Inc, which provides enterprise software to transportation and logistics companies, for $335 million in cash.
TMW's software platform serves as a hub from which the core operations of transportation companies are managed, data is stored and analyzed, and business processes are automated, Trimble said.
The Beachwood, Ohio-based company has 500 employees and reported trailing twelve month revenue of about $96 million.
"TMW brings a history of robust double-digit growth, invention and strong financial performance," said Ron Konezny, general manager of Trimble's transportaion and logistics unit.
Trimble, which makes surveying, mapping, and marine navigation equipment, said in April that it will buy Google Inc's (GOOG.O) SketchUp 3D modeling platform for an undisclosed price.
The company said it will finance the TMW deal through its existing credit facility and expects it to close in the fourth quarter of 2012.
The deal will hurt Trimble's fourth-quarter adjusted profit by between 1 cent and 3 cents per share. But it will add between 12 cents and 14 cents per share to its 2013 adjusted earnings.
(Reporting by Sayantani Ghosh in Bangalore; Editing by Supriya Kurane)