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Trimble to Acquire 3D Laser Scanning Company MENSI 09.18.2003

September 18, 2003
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Trimble announced that it has signed an agreement with EDF Environnement et Developpement S.A. of France to acquire its subsidiary, MENSI S.A., a leading developer of terrestrial 3D laser scanning technology. Trimble will acquire MENSI in a cash transaction valued at up to EUR 6.5 million (approximately USD 7.3 million). The initial purchase price is EUR 3.5 million (approximately USD 3.9 million) with additional payments up to EUR 3.0 million (approximately USD 3.4 million) based on revenue through 2007. Closing of the transaction is subject to approval by French authorities.

The announcement was made today at Intergeo 2003, the largest European conference on geodesy, geoinformatics and land management.

The addition of 3D laser scanning to Trimble's other positioning technologies will accelerate the development of new products, which enhance productivity in Trimble's existing surveying, engineering and construction markets. Laser scanning enables users to collect and use much higher amounts of 3D data than other tools.

"MENSI is an industry leader in 3D laser scanning technology. The company has built a strong market and technology position since its founding," said Steven W. Berglund, president and CEO of Trimble. "The acquisition gives us an immediate entry into 3D laser scanning and data modeling applications and strengthens our existing positioning product portfolio. We expect to use the MENSI platform to develop new generations of products for the surveying, engineering and construction industries."

"Since the company was founded, MENSI's vision has been that 3D scanners would become the next revolution in surveying equipment and a basic tool for surveyors," said Tristan Grimbert, CEO of MENSI. "Trimble is the perfect match for MENSI to integrate 3D terrestrial laser scanning into regular day-to-day surveying operations."

MENSI will operate as a wholly owned subsidiary and Trimble intends to recognize its revenues under the company's Engineering and Construction business segment.

Source: Trimble, Sept. 17, 2003

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