Trimble Acquires ThingMagic RFID TechnologyOctober 26, 2010
The acquisition expands Trimble's technology portfolio.
SUNNYVALE, CA /PRNewswire-FirstCall/ -- Trimble (Nasdaq: TRMB) announced it has acquired the business of ThingMagic, Inc. of Cambridge, MA. ThingMagic is a leading developer of radio frequency identification (RFID) technology and offers advanced development services to facilitate the integration of RFID into a wide range of applications. The acquisition expands Trimble's technology portfolio and will enable the company to provide additional productivity solutions in its served industries. Financial terms were not disclosed.
RFID technology is part of automated data collection, identification and location systems worldwide, addressing critical productivity needs across many industries. A pioneer in the UHF RFID market, ThingMagic will continue to offer high-performance fixed and embedded RFID readers and services to customers in a wide range of industry verticals from construction to transportation.
"Adding ThingMagic's RFID technology and system integration expertise will allow Trimble to build more comprehensive and capable solutions for its existing markets and potentially provide entry into new markets," said Jurgen Kliem, vice president of Trimble's strategy and business development. "Similar to the widespread integration of GPS into today's positioning solutions, we believe RFID can transform markets and is a natural complement to our existing technology portfolio."
"We excel in deploying high-performance RFID technology into high-value solutions for customers," said Tom Grant, chairman and CEO of ThingMagic. "Our RFID excellence combined with Trimble's global reach and domain expertise is a strong platform that can enable the next generation of RFID applications."
The operating results of the acquired business will be reported within Trimble's Advanced Devices segment.
ThingMagic is a leading provider of UHF RFID reader engines, development platforms and design services for a wide range of applications. ThingMagic has developed products for demanding high-volume applications with a reputation for consistently exceeding client expectations with its consulting and design services to create solutions for challenging applications. ThingMagic's customers include some of the world's largest industrial automation firms, manufacturers, automotive companies, retailers, and consumer companies. Headquartered in Cambridge, MA, the company was founded in 2000 by a group of visionary PhD graduates from Massachusetts Institute of Technology's Media Lab. ThingMagic is "The Engine in RFID"
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, CA.
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