April 23, 2018 / 9:06 PM / 2 years ago

Trimble to buy privately-held Viewpoint in $1.2 billion deal

(Reuters) - Software company Trimble Inc (TRMB.O) said on Monday it would acquire privately-held Viewpoint from investment firm Bain Capital in an all-cash deal valued at $1.2 billion as it looks to expand its services in the construction sector.

The company also raised its revenue outlook, sending its shares up 4.9 percent to $37.91 in extended trading.

Trimble said it now expects first-quarter revenue to be above the high end of its prior forecast range of $700 million to $730 million.

Analysts on average are expecting a revenue of $723.9 million, according to Thomson Reuters I/B/E/S.

The deal is expected to be completed in the third quarter of 2018 and contribute about $200 million to Trimble’s adjusted revenue in 2019.

The Viewpoint business will be part of Trimble’s buildings and infrastructure segment and will complement the company’s recent acquisition of e-Builder, a software that caters to construction space.

Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur

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