Trimble and the Hilti Group announced that they have reached a definitive agreement to form Intelligent Construction Tools, LLC. The joint venture, evenly split between the two companies, will focus on leveraging technologies from both Trimble and Hilti to develop measuring solutions for the building construction trades.
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
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.
Trimble, Hilti to form Intelligent Construction Tools
September 15, 2010