(By Balachander) Trimble Navigation Ltd. (NASDAQ: TRMB) has agreed to acquire Canada's GEOTrac Systems Inc. for an undisclosed sum to bolster its transportation services presence in the North American oil and gas sector.
Privately-held GEOTrac Systems Inc. provides wireless fleet management services with its geographic information systems (GIS) mapping, web-based software and rugged hardware for the oil and gas industry.
Ron Konezny, general manager of Trimble's Transportation and Logistics unit, said GEOTrac's reach "more than doubles its installed base in Canada."
According to Trimble, when a customer logs into GEOTrac's web-based application, they can retrieve the latest map detail as provided by current activity in the field. GEOTrac dynamically feeds GPS coordinates from thousands of vehicles daily.
Sunnyvale, California-based Trimble Navigation offers positioning, wireless, and software technology services, including global positioning system (GPS) receivers and embedded modules for aircraft navigation and timing applications.
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TRMB shares ended at $47.60 on Friday.