Trimble Acquires QuickPen to Expand its Building Construction Solutions
SUNNYVALE, Calif. - Trimble (NASDAQ: TRMB) announced it has acquired privately-held QuickPen International based in Englewood, Colo. QuickPen is a leading provider of Building Information Modeling (BIM) software for the heating, ventilation and air conditioning (HVAC), mechanical construction and plumbing industries. Financial terms were not disclosed.
QuickPen provides estimating, Computer Aided Design (CAD), fabrication and asset tracking software for the mechanical and HVAC construction trades. The company’s state-of-the-art 3D CAD software produces detailed HVAC ductwork and piping models that can be rapidly fabricated. In addition, QuickPen's asset management program allows contractors to manage their significant investment in tools and equipment. The acquisition of QuickPen enables Trimble to provide complete “BIM to field” solutions for mechanical and HVAC contractors to automate project estimating, detailing, layout and construction.
“BIM is transforming the way construction projects are planned and managed,” said Pat Bohle, business area manager of Trimble's Building Construction Division. “The QuickPen software will enable Trimble to provide complete and compelling solutions for our building construction customers in the HVAC, mechanical and plumbing industries. Building contractors will be able to create a BIM in QuickPen software and export the data directly to the Trimble MEP field layout solution and use the data to layout and construct heating, ventilation and air conditioning ducts, plumbing systems and piping.”
“QuickPen provides a core competency in BIM software to augment Trimble's portfolio of solutions for the HVAC, mechanical and plumbing contractor,” said Morton Massey, CEO of QuickPen. “The acquisition reinforces our best-in-class technologies and provides us access to Trimble’s global resources. We are extremely pleased to join the Trimble family."
QuickPen will be part of the Engineering and Construction segment.
Building Information Modeling or Building Information Management (BIM) is the process of modeling and communicating the structure of a building in detail to benefit the entire building lifecycle. BIM facilitates the exchange and use of building information in digital format and is currently used by professionals on all building types from the simplest warehouse to many of the most complex new buildings.
As an emerging design method in use today, BIM allows a virtual information model to be handed from design team (architects, surveyors, consulting engineers, and others) to contractor and subcontractors and then to the owner, each adding their own additional discipline-specific knowledge and tracking of changes in a single model. The goal of BIM is to reduce the information loss that occurs when a new team takes "ownership" of a project as well as to deliver extensive information to owners of complex structures far beyond that which they are currently accustomed to having.
Founded in 1982, QuickPen International (www.QuickPen.com) builds award-winning software solutions for the construction industry. Its estimating, CAD, fabrication, and tool and equipment software solutions help customers grow their businesses and excel in the construction marketplace. Headquartered in Englewood, Colorado, QuickPen is the system solution provider of choice for the North American mechanical contracting industry.
For more information, visit: www.quickpen.com
Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location-including 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, whether Trimble will be able to successfully expand its building construction solutions through the acquisition and provide complete and compelling solutions to the HVAC, mechanical and plumbing market; whether customers will adopt such solutions, including the emerging BIM design methodologies; and the impact of worldwide recessionary conditions on customer purchasing decisions. Additional risks and uncertainties include: the risks inherent in integrating an acquisition; unanticipated expenditures, charges or assumed liabilities that may result from the acquisition; retaining key personnel; and the impact of the current global economic crisis and recessionary conditions. 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.