SUNNYVALE (California): Trimble (Nasdaq: TRMB) announced today it has acquired Tata AutoComp Mobility Telematics Limited (TMT), a wholly-owned company of Tata AutoComp Systems Limited of Pune, India. TMT is a leading provider of telematics solutions and Mobile Resource Management (MRM) services in India and serves large customers such as Bharat Petroleum Corp. Ltd. as well as Tata Group companies such as Tata Motors. The acquisition is expected to expand Trimble's MRM solutions portfolio and allow the company to better address markets in India. Financial terms were not disclosed.
TMT solutions are marketed under the "trako" brand. In addition to providing vehicle tracking, TMT offers a broad range of specialty telematics solutions including: school bus applications that provide location information to parents via the Internet and SMS; bus tracking for state transport and city transportation services that provide online tracking information to bus operators and dynamic expected time-of-arrival forecasts on LED displays at bus stops, over the Internet and on mobile phones; cargo management for logistics supply chain organizations to track and integrate vehicle location data with Enterprise Resource Planning (ERP) systems for on-road visibility of cargo; dispatch management for emergency service vehicles such as ambulance and fire; waste truck management applications for municipal corporations, environment management companies and waste carriers that track their collection and service vehicles and monitor waste pick-up schedules by geo-coding waste bins.
R S Thakur, executive director and CEO of Tata AutoComp Systems Limited said, "Tata AutoComp has devised its growth strategy for the period up to 2020. The TMT decision is in sync with our strategy to focus and strengthen our core business areas. When deliberating our options for TMT, including a new home for TMT, we were convinced that Trimble was the right choice given its worldwide position and service record in MRM. We are confident that all the customers of TMT, including various Tata companies, will continue to benefit from the TMT ownership by Trimble."
"The TMT acquisition broadens Trimble's portfolio of telematics and MRM solutions and underscores our commitment to the Indian market," said Bryn Fosburgh, Trimble vice president. "We look forward to building on the solid foundation that Tata AutoComp Systems and TMT have created as we expand Trimble's presence in India."
The TMT business will be reported as part of the Mobile Solutions segment.
About Tata AutoComp Systems Limited:
Tata AutoComp Systems Limited (Tata AutoComp), promoted by the Tata Group, provides products and services to the Indian and Global automotive OEMs as well as Tier 1 suppliers. Its clients include Ashok Leyland, BMW, Fiat, Force Motors, Ford Motors India, General Motors India, Honda, John Deere, Mahindra & Mahindra, Mahindra-Navistar, Man, Mercedes-Benz, Nissan, Piaggio, Renault, Tata Motors, Toyota Kirloskar Motors Limited, Volkswagen and Volvo-Eicher. Tata AutoComp has its own capabilities in Automotive Interior and Exterior Plastics, Composites and Engineering. Tata AutoComp has 6 joint ventures in partnership with companies from the Global Auto Component Industry and has over 40 manufacturing facilities spread across India and China.
For more information, please visit: www.tacogroup.com.
About Trimble:
Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or locationâincluding surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978, Trimble is headquartered in Sunnyvale, Calif.
For more information, visit Trimble's Web site at: www.trimble.com.
Certain statements made in this press release are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, and actual events and results may differ materially from those described in this news release. Factors that could cause or contribute to such differences include, but are not limited to, Trimble's ability to successfully integrate the TMT business, and expand Trimble's MRM solutions portfolio and market presence in India. Additional risks and uncertainties include: the risks inherent in integrating an acquisition; unanticipated expenditures, charges or assumed liabilities that may result from the acquisition; and retaining key personnel and commercial relationships. More information about potential factors which could affect Trimble's business and financial results is set forth in reports filed with the SEC, including Trimble's quarterly reports on Form 10-Q and its annual report on Form 10-K. All forward looking statements are based on information available to Trimble as of the date hereof, and Trimble assumes no obligation to update such statements.
