Trimble last week announced that it entered into a definitive agreement to acquire privately held Meridian Project Systems, of Folsom, Calif., in an all-cash transaction. Meridian Systems provides enterprise project management and lifecycle software for optimizing the plan, build and operate lifecycle for real estate, construction and other physical infrastructure projects. Building owners, construction contractors, engineering firms, and government agencies use Meridian technology to reduce capital construction costs and improve project productivity. Closing of the transaction, anticipated in the fourth quarter of 2006, is subject to usual and customary closing conditions. Financial terms of the transaction were not disclosed.
The acquisition of Meridian Systems adds the business and lifecycle management software component to Trimble’s Connected Construction Site strategy, which anticipates significant efficiency improvements through a tighter integration of construction process information. Meridian Systems is an established market leader in construction project management technologies to the building owner and architecture, engineering and construction market segments.
“Meridian Systems has successfully built a strong market position and has demonstrated profitable revenue growth,” said Bryn Fosburgh, vice president of Trimble’s Engineering and Construction segment. “The Meridian Systems acquisition provides Trimble an information platform for growth in the enterprise project management market and is a significant step forward in realizing our Connected Construction Site initiatives.”
Meridian Systems will be reported within Trimble’s Engineering and Construction business segment. Trimble expects the acquisition to be accretive in 2007.
Headquartered in Sunnyvale, Calif., Trimble is a leading innovator of Global Positioning System technology. In addition to providing advanced GPS components, Trimble augments GPS with other positioning technologies as well as wireless communications and software to create complete customer solutions.