Trimble Inc. (NasdaqGS:TRMB) signed a definitive agreement to acquire Kuebix, LLC from Pillar VC and others on January 9, 2020. Upon closing, Kuebix's business will be part of Trimble's Transportation Sector. The Kuebix team, including Dan Clark, Founder of Kuebix, and Dave Lemont, Chief Executive Officer of Kuebix, will be retained by Trimble. The transaction is subject to customary closing conditions and expected to close in the first quarter of 2020. Cowen acted as financial advisor to Kuebix, LLC.
Trimble Inc. (NasdaqGS:TRMB) completed the acquisition of Kuebix, LLC from Pillar VC and others for approximately $200 million on January 13, 2020. Trimble has financed the acquisition of Kuebix from Trimble's cash available for investing activities.
Trimble, Inc. specializes in the development and marketing of technology and software solutions for the construction, agriculture, transportation, utility, geospatial technology industries, etc. The group offers equipment and software used in modeling, connectivity, information and communication systems, data collection and analysis systems, project management, etc. Net sales break down by market as follows:
- geospatial technologies and civil engineering (41.7%);
- building and infrastructure construction (36.9%);
- transportation and logistics (21.4%).
Net sales break down by source of revenue between sales of subscriptions and services (65.2%) and sales of products (34.8%).
Net sales are distributed geographically as follows: North America (56.4%), Europe (28.5%), Asia/Pacific (9.9%) and other (5.1%).
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