Trimble Acquires GEOTrac to Extend PeopleNet’s Transportation and Logistics Solutions for the North American Oil and Gas Industry
SUNNYVALE, Calif., June 11, 2012—Trimble (NASDAQ:TRMB) announced today that it has acquired privately-held GEOTrac Systems Inc. of Calgary, a leading provider of wireless fleet management and worker safety solutions for the oil and gas industry. The addition of GEOTrac is expected to extend PeopleNet’s industry-leading transportation solutions to address the North American oil and gas industry. Financial terms were not disclosed.
GEOTrac has been providing GIS mapping, web-based software and rugged hardware specifically for the oil and gas industry since 2003. GEOTrac works with many of the top energy producers and service companies in North America and provides custom solutions for lone worker and fleet management solutions.
While the oil and gas industry leads the world in drilling and exploration technologies, it is challenged with remote worker safety and fleet optimization. GEOTrac began mapping private oil and gas lease roads throughout the Western Canadian Sedimentary Basin (WCSB). As new roads were constructed by large oil and gas producers, GEOTrac continued to detail roads, creating the most comprehensive oil and gas lease-road network in Canada. Today, as the largest fleet management provider for the Canadian oil and gas industry, GEOTrac dynamically feeds GPS coordinates from thousands of vehicles daily. When a customer logs into GEOTrac’s web-based application, they can retrieve the latest map detail as provided by current activity in the field.
“The acquisition extends PeopleNet’s focus on innovation, service and brings best-of-breed solutions to the North American transport/oil and gas industry,” said Ron Konezny, general manager of Trimble’s Transportation and Logistics (T&L) Division. “GEOTrac’s reach more than doubles our installed base in Canada and adds new team members who are committed to providing the industry a competitive edge by reducing operational costs and improving customer service.”
GEOTrac’s customers will continue to experience excellent service levels from locally available field service technicians, customer service representatives and after-sale support. Enhanced expertise from the combined companies can ensure that GEOTrac exceeds the expectations of customers in the future.
“We welcome the acquisition as a growth opportunity, enabling us to improve our services and broadening our market both in and outside of Canada with a team that shares our values and passion for innovative solutions,” said Tim Hodge, CEO of GEOTrac. “The combination of advanced technology and similar corporate cultures, ensure that our oil and gas customers will continue to receive the highest levels of service.”
The GEOTrac business will be reported as part of Trimble’s Mobile Solutions segment.
About GEOTrac Systems Inc.
GEOTrac Systems Inc. is a privately-held company providing fleet management and worker safety solutions for the oil and gas industry. Focused on this vertical, GEOTrac is able to provide custom solutions relevant to the needs of field operations. GEOTrac works with many of North America’s top oil and gas producers and service companies. Since 2003, GEOTrac has been providing GIS mapping, web-based software and rugged hardware for the harsh climate in the oil and gas industry.
For more information, visit: www.geotracinternational.com.
PeopleNet, a Trimble Company, is focused on providing innovative Internet-based and integrated onboard computing and mobile communications systems to improve North America’s trucking industry’s fleet management. Its products are used by nearly 1,500 truckload, LTL, private, and service fleets in the U.S. and Canada, including several Fortune 500 companies. Reputed for its customer-driven technological innovation, unparalleled flexibility, and proactive customer care, PeopleNet was the first technology provider to offer Internet-based communications to the transportation industry 15 years ago. Since then, the company has developed new products that continue to improve fleet management. Industry recognition of the company’s leadership includes: Frost & Sullivan New Product Innovation Award, Inbound Logistics Top 100 Award; Food Logistics’ 100 Top Technology Solutions and Service Providers; Frost & Sullivan Market Engineering Award; and M2M Value Chain Award.
For more information, visit: www.peoplenetonline.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: www.trimble.com.
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, Trimble's and PeopleNet’s ability to successfully extend PeopleNet’s transportation solutions to address the North American oil and gas industry through the acquisition of the GEOTrac solutions. Additional risks and uncertainties include: the risks inherent in integrating an acquisition; unanticipated expenditures, charges or assumed liabilities that may result from the acquisition; and retaining key personnel and commercial relationships. 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.