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Trimble to Acquire TracerNet to Expand Fleet Management Market Presence

February 17, 2004

Trimble announced on Feb. 17 that it has agreed to acquire privately-held TracerNet Corporation of Chantilly, Virginia, a provider of wireless fleet management solutions, in an all cash transaction. Terms were not disclosed. Completion of the transaction, anticipated in March, is subject to the usual and customary closing conditions. As part of the acquisition, TracerNet and Trimble's Mobile Solutions Division will be consolidated under a new legal entity, Trimble Mobile Solutions, Inc., which will operate as a wholly owned subsidiary of Trimble. "With this acquisition, we will focus on integrating the best features from each company to offer more diverse and complete fleet management solutions," said Steven Berglund, president and CEO of Trimble.
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