Message from Meridian’s president on the Trimble acquisition
Meridian has signed a definitive agreement to be acquired by Trimble (NASDAQ: TRMB), a leading global provider of diverse technology solutions to several industries including Engineering and Construction. An official press release has been issued by Trimble announcing our acquisition, and can be reviewed in its entirety by going to the Trimble website, at http://www.trimble.com/news/release.aspx?id=103106a.
This acquisition brings together two industry leaders with complementary market strategies and product offerings, and I would like to provide some perspective on how this strategy will ultimately benefit all Meridian stakeholders.
Trimble is a large multi-national corporation, known as an innovator in GPS/positioning technologies, wireless communications and software solutions. In 2005, Trimble generated more than $774M in annual revenue from a diversified group of industries.
For Meridian, the acquisition by Trimble provides a long-term business partner with a successful track record, solid financial backing, and a global footprint. Meridian can leverage this organizational infrastructure to further penetrate key vertical markets, and to expand our solutions on a global basis.
Trimble sees value in the complementary nature of both our customer base, including the building owner/operator and AEC/General Contractor market segments. The Meridian acquisition provides growth and further diversification to Trimble’s business and strategic initiatives.
Meridian supports Trimble’s strategy to deliver business solutions to various infrastructure-intensive industries by delivering information-based solutions that reduce rework through improved project management and scheduling applications. Together, Meridian and Trimble can provide deeper, richer technology solutions that improve margin gains and productivity for both its customers. More detailed information on Trimble can be found by reviewing their latest annual report, accessible via the Meridian web site at http://www.trimble.com/investors/trimble05ar/HTML2/default.htm.
Meridian will continue to exist and operate as it does today. Trimble’s acquisition model is to acquire industry leading companies and operate them independently, as wholly-owned subsidiaries. Meridian will operate as part of Trimble’s Engineering and Construction division, but under its own brand and maintaining its employee base and corporate offices in Folsom, Calif., and Vancouver, B.C.
I look forward to being a part of this new chapter in Meridian’s history, because it allows us to bring new solutions into new markets, and to accelerate growth opportunities for our products and services on a global scale. Stay tuned for more details from Meridian and Trimble as our relationship develops over the coming year!
Best Regards,
John Bodrozic,
President and Cofounder
Meridian Systems
