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SpatialNews.com Press Release
Trimble Acquires Assets of The XYZs of GPS, Inc.
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SUNNYVALE, Calif., Feb. 22, 2006 – Trimble (NASDAQ: TRMB) today announced that it has acquired intellectual property assets from privately-held The XYZs of GPS, Inc. of Dickerson, Maryland, in an all-cash transaction. The XYZs of GPS develops real-time Global Navigation Satellite System (GNSS) reference station, integrity monitoring and dynamic positioning software for meter, decimeter and centimeter applications. Financial terms were not disclosed.
The purchase of The XYZs of GPS intellectual property is expected to extend Trimble’s product portfolio of infrastructure solutions by providing software that enhances differential GNSS correction systems used in marine aides to navigation, surveying, civil engineering, hydrography, mapping and Geographic Information System (GIS), and scientific applications.
Dr. Benjamin W. Remondi, president and CEO, and staff of The XYZs of GPS will join Trimble as part of the transaction.
“Dr. Remondi has been a pioneer in the development of GNSS positioning and its applications. We are extremely pleased to welcome him and his team to Trimble. We believe that The XYZs of GPS software will greatly enhance our infrastructure solutions which are becoming increasingly critical for high precision applications,” said Jürgen Kliem, general manager of Trimble’s Survey Division.
“We are pleased to become a part of Trimble,” said Dr. Remondi. “Our R&D efforts are in alignment with Trimble’s strategic focus to provide infrastructure solutions that enable high-precision positioning and navigation for scientific, engineering, and safety-of-life applications. I am excited about the possibilities.”
The assets acquired from The XYZs of GPS will be reported as part of Trimble’s Engineering and Construction business segment.
About XYZs of GPS
Founded in 1994 and headquartered in Dickerson, Maryland, The XYZs of GPS develops real-time Global Navigation Satellite System (GNSS) reference station, integrity monitoring and dynamic positioning software for meter, decimeter and centimeter applications. In addition, the XYZs of GPS also develops algorithms and software applications for the real-time monitoring of bridges, dams, buildings, landslides, volcanoes, earthquakes, subsidence and oilfields. For more information visit: http://www.xyzsofgps.com.
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, agriculture, machine guidance, asset and fleet management, 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.
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