SUNNYVALE, Calif., July 17, 2009 —Trimble (NASDAQ: TRMB) announced today it has acquired the assets of privately-held CTN Data Service, LLC, creator of Farm Works software, located in Hamilton, Indiana. The acquisition is expected to accelerate Trimble’s information management capabilities and offer agricultural customers significant new capabilities in their precision farming operations. Financial terms were not disclosed.
Farm Works provides integrated office and mobile software solutions for both the farmer and agriculture service professional. The software is compatible with a wide range of file formats and hardware typically used in the agriculture equipment industry. Among its capabilities, Farm Works software can automatically capture field event data, downloaded from an in-cab display or handheld computer, for record keeping. The software also tracks most farm operations including vehicle monitoring, crop management, staffing, field mapping, chemical and fertilizer management, and cost accounting. The software also includes a herd management and genealogy program for livestock producers.
“Bringing Farm Works and Trimble together allows us to integrate technologies and competencies to further enhance information management solutions for precision agriculture," said Erik Arvesen, vice president and general manager for Trimble's Agriculture Division. “As we continue to expand our agricultural solutions, it is important that we help farmers take full advantage of the available data to improve yield and productivity as well as reduce their carbon footprint.”
"We are very pleased to join Trimble," said Ian Harley, primary owner of CTN Data. "While continuing to work with a range of manufacturers, the combination of Trimble’s field-proven technology and CTN’s data management software will provide a seamless solution to help realize the full potential of precision agriculture."
About CTN Data Service
CTN Data Service, LLC, headquartered in Hamilton, Indiana, with subsidiary offices in the United Kingdom and South Africa, was founded in the summer of 1992 by Norman Teegardin, president of CTN Data Service, LLC. Teegardin, a former farmer, recognized that record keeping was time consuming but critical to business operations. He developed Farm Works software to create a comprehensive farm management system that was simple to use. The company supplies farm management software in 20 different languages and has a customer base of over 30,000 users worldwide. CTN Data Service provides fully supported, easy-to-use, yet technically advanced solutions for the office and field.
For more information visit: www.farmworks.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.
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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 accelerate and expand the information management capabilities it offers for precision agriculture through the acquisition; Trimble’s ability to integrate Farm Works technology and competencies and provide enhanced solutions that can improve productivity and reduce carbon footprints; whether customers will adopt such solutions, especially given the impact of worldwide recessionary conditions on customer purchasing decisions; and whether Farm Works software will continue to be compatible with a wide range of manufacturers and file formats in the future. 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 continuing impact of the current global recession. 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.