Trimble Acquires Assets of The XYZs of GPS - 24/02/2006
Trimble (CA, USA) has acquired intellectual property assets from privately-held The XYZs of GPS, Inc. (MA, USA), in an all-cash transaction. The XYZs of GPS develops real-time GNSS reference station, integrity monitoring and dynamic positioning software for metre, decimetre and centimetre 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 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. The assets acquired from The XYZs of GPS will be reported as part of Trimble’s Engineering and Construction business segment.