Trimble to Acquire Meridian Systems for Enterprise Construction Project Management SUNNYVALE, Calif., Oct. 31, 2006 – Trimble (NASDAQ: TRMB) today announced that it has entered into a definitive agreement to acquire privately-held Meridian Project Systems, Inc., 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 (AEC) 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.” “We are pleased to join Trimble,” said James Olsen, CEO of Meridian Systems. “For Meridian, the acquisition provides us with solid financial backing and the organizational infrastructure to further penetrate key vertical markets and expand globally. For Trimble, we believe the acquisition enhances its Connected Construction Site strategy by adding a core enterprise business software competency to facilitate the delivery of information throughout the entire plan, build and operate life cycle." Meridian Systems will be reported within Trimble’s Engineering and Construction business segment. Trimble expects the acquisition to be accretive in 2007. The Connected Construction Site A goal of Trimble’s Connected Construction Site strategy is to improve construction project management by providing easy integration of project data and customized status information to the construction professional. Trimble has a range of solutions for the construction market including: pre-design construction planning software, design and data preparation, earthmoving grade control, site positioning, general and interior building and asset management. Through all phases of the construction process, Trimble provides productivity solutions to streamline work processes, minimize downtime and reduce re-work. Meridian Systems software solutions adds the business management component and bring similar productivity enhancements by optimizing the plan, build and operate phases of real estate, construction, and other physical infrastructure projects and programs. About Meridian Systems About Trimble For an interactive look at company news and products, visit Trimble’s Web site at http://www.trimble.com. Certain statements made in this news 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. This press release contains forward-looking statements that include risks and uncertainties such as the satisfaction of the conditions to closing and the expected financial performance of Meridian Systems. Additional risks and uncertainties include the risks inherent in acquiring and integrating a company, unanticipated expenditures and changing relationships with customers. Among other things, economic trends and additional competitive issues may have an adverse effect on the success of the proposed acquisition. These and other risks are detailed from time to time in reports filed with the SEC, including Trimble's quarterly reports on Form 10-Q and its annual report on Form 10-K. The consummation of the acquisition is subject to certain closing conditions and may not be consummated on the terms proposed or at all. 1Statistics excerpted from the 2006 National Construction-Technology survey, Constructech Magazine
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