Trimble to Buy TMW Systems for $335 Million
Trimble Navigation said Monday it has signed an agreement to acquire TMW Systems for $335 million, bringing the transportation software provider together with PeopleNet Communications Corp., which Trimble purchased last year.
Executives with the companies told Transport Topics they will remain separate units and continue working with all current partners.
They also will more closely integrate TMW’s products with PeopleNet’s onboard computing and fleet communications services.
The all-cash deal will be financed through Trimble’s existing credit facility. TMW’s most recent 12-month revenue was about $96 million, Trimble said in a statement, and said the deal would add about 12 to 14 cents per share to its adjusted 2013 earnings.
David Wangler, TMW’s president and CEO, said joining with Trimble gives TMW an opportunity for growth that “we didn’t have as a stand-alone,” including more access to the construction and agricultural segments.
The companies have worked together for about a decade and TMW is PeopleNet’s largest technology integration partner, said Ron Konezny, general manager of Trimble’s transport and logistics division.
Konezny founded PeopleNet, Minnetonka, Minn., in 1994, and started in his current role for Trimble in December. At that time, Brian McLaughlin was promoted to president of PeopleNet from chief operating officer.
Outside North America, Trimble, Sunnyvale, Calif., has a presence in Europe, Australia and India.
TMW’s website says 77 of the largest 100 for-hire fleets use its software, based on the 2011 TT100 list.
TMW, Beachwood, Ohio, celebrates its 30th anniversary next year. It purchased Appian Logistics Software in 2011, Innovative Computing Corp. in 2009 and Maddocks Systems in 2006.
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