Trimble Acquires Second Engineering and Construction Accessories Company
SUNNYVALE, Calif., July 30, 2008 - Trimble (NASDAQ: TRMB) announced today it has acquired privately-held SECO Manufacturing Company of Redding, Calif., in an all-cash transaction. SECO is a leading manufacturer of accessories for the geomatics, surveying, mapping, and construction industries. Financial terms were not disclosed.
SECO manufactures and distributes accessories for surveying instruments, lasers, robotics, and mapping and Global Positioning System (GPS) systems, which includes products such as tripods, prism poles, rover rods, brackets, adapters, carrying cases, and backpacks. Along with offering company-branded accessories, SECO also offers custom-made private labeled solutions.
SECO complements Trimble's recent acquisition of Crain Enterprises, which was announced in January of 2008. The purchase of SECO and Crain allows Trimble to provide the necessary accessories that can be offered as part of its positioning solutions used in the Engineering and Construction markets. SECO specializes in the development, fabrication and machining of metallic accessory products while Crain is more focused on polymer and composite-based products. Both SECO and Crain are innovative and agile producers. These capabilities are expected to permit marked improvements in functionality for customers in next generation products. In addition, Trimble, SECO and Crain will be able to leverage distribution channels throughout the world.
"With the recent acquisition of Crain Enterprises and now SECO, we are well positioned to lead the engineering and construction accessories market," said Bryn Fosburgh, sector vice president of Trimble. "SECO will enable us to continue to augment our existing product lines by offering additional accessories as part of our solutions portfolio. Since accessories are important system components, they are often key to achieving total solution performance. The acquisition allows us to better satisfy our user's needs."
"We have worked closely with Trimble since the early 1980's and we believe the acquisition is an ideal fit," said Mike Dahl, vice president and general manager of SECO. "The acquisition solidifies our industry leadership position and gives us access to further expansion by leveraging Trimble's worldwide distribution channel."
SECO will be part of Trimble's Engineering and Construction segment.
For more information, visit: www.surveying.com
For more information, visit Trimble's Web site at www.trimble.com.