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Trimble Navigation (TRMB) Paying $335M For Transportation Management Software Co

 August 27, 2012 06:54 AM
 

(By Balachander)Trimble Navigation Ltd. (NASDAQ:TRMB) is acquiring TMW Systems, Inc., a provider of transportation management software, for $335 million in cash.

Sunnyvale, California-based Trimble, which provides positioning, wireless, and software technology services, expects the deal to add to its 2013 non-GAAP earnings per share by 12 to 14 cents.

Trimble the acquisition of the privately-held company will be financed through its existing credit facility.

Beachwood, Ohio-based TMW's reported trailing twelve month revenue is roughly $96 million.

The company expects the deal to be completed in the fourth quarter.

TRMB shares closed at $46.61 on Friday. Over the past year, the stock has been trading between $31.88 and $55.95.


Rich
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