Trimble, Hilti to form Intelligent Construction Tools
Partnering since 2002, the Hilti and Trimble organizations share similar values-focusing on an understanding of customer needs and harnessing innovation to develop solutions that increase customer productivity. In addition, Trimble and Hilti have complementary channels and geographic footprints in the building construction space. By combining Hilti's expertise in a wide range of application systems for construction professionals with Trimble's broad portfolio of positioning technologies, the joint venture will deliver a new class of productivity solutions to the building construction industry.
"We are extremely pleased to be partnering with Hilti," said Steven W. Berglund, president and CEO of Trimble. "The joint venture brings tremendous synergy to Trimble and Hilti by providing the expertise and platform to develop long-term strategies to serve the building construction market. The powerful combination of these two companies creates a unique opportunity to change the way work is done on building sites."
"The software and hardware technologies and innovative capabilities of Hilti and Trimble are extremely complementary. The joint venture will allow both companies to broaden their portfolios with additional innovative measuring technologies," said Bo Risberg, CEO of the Hilti Group.
Under the terms of the agreement, Trimble and Hilti will contribute cash and selected technology. In addition, both companies have licensed patents and other intellectual property from their portfolios for use in joint venture products. The proprietary technologies will serve as the joint venture's foundation for product development and commercialization efforts.
The joint venture will supply products to Trimble and Hilti. Each will market, distribute, service and support the products using its independent distribution or direct sales channels.
Intelligent Construction Tools, LLC will be based in Westminster, Colorado and is expected to begin operations in September 2010.
For more information about Hilti, visit www.hilti.com.
For more information about Trimble, visit www.trimble.com.