Platform Science Completes Acquisition of Trimble’s Global Transportation Telematics Business Units
Platform Science has completed its acquisition of Trimble's (NASDAQ: TRMB) global transportation telematics business units, a deal first announced in September 2024. As part of the transaction, Trimble becomes a shareholder in Platform Science and receives a board seat, joining other strategic investors including C.R. England, Cummins, Daimler Truck, and PACCAR.
The collaboration focuses on expanding Virtual Vehicle, Platform Science's open, connected vehicle application platform. This platform enables fleets to access various telematics and management software through OEM vehicle architecture or aftermarket hardware, providing a uniform experience regardless of vehicle type.
The transaction aligns with Trimble's Connect and Scale strategy, allowing the company to focus on priority growth areas including Enterprise, Maps, Vusion, and Transporeon business units, which remain part of Trimble's Transportation & Logistics segment.
Platform Science ha completato l'acquisizione delle unità aziendali globali di telematica per il trasporto di Trimble (NASDAQ: TRMB), un accordo annunciato per la prima volta nel settembre 2024. Come parte della transazione, Trimble diventa azionista di Platform Science e ottiene un seggio nel consiglio, unite ai vari investitori strategici tra cui C.R. England, Cummins, Daimler Truck e PACCAR.
La collaborazione si concentra sull'espansione di Virtual Vehicle, la piattaforma di applicazione di veicoli connessi e aperti di Platform Science. Questa piattaforma consente alle flotte di accedere a vari software di telematica e gestione attraverso l'architettura dei veicoli OEM o hardware aftermarket, offrendo un'esperienza uniforme indipendentemente dal tipo di veicolo.
La transazione si allinea con la strategia Connect and Scale di Trimble, permettendo all'azienda di concentrarsi su aree di crescita prioritarie tra cui le unità aziendali Enterprise, Maps, Vusion e Transporeon, che rimangono parte del segmento Trasporti e Logistica di Trimble.
Platform Science ha completado la adquisición de las unidades comerciales globales de telemática de transporte de Trimble (NASDAQ: TRMB), un acuerdo que se anunció por primera vez en septiembre de 2024. Como parte de la transacción, Trimble se convierte en accionista de Platform Science y obtiene un asiento en la junta, uniéndose a otros inversores estratégicos, incluyendo C.R. England, Cummins, Daimler Truck y PACCAR.
La colaboración se centra en la expansión de Virtual Vehicle, la plataforma de aplicación de vehículos conectados y abiertos de Platform Science. Esta plataforma permite a las flotas acceder a varios software de telemetría y gestión a través de la arquitectura del vehículo OEM o hardware de mercado secundario, proporcionando una experiencia uniforme independientemente del tipo de vehículo.
La transacción se alinea con la estrategia Connect and Scale de Trimble, permitiendo a la empresa centrarse en áreas de crecimiento prioritarias, incluyendo las unidades comerciales Enterprise, Maps, Vusion y Transporeon, que siguen siendo parte del segmento de Transporte y Logística de Trimble.
Platform Science는 Trimble (NASDAQ: TRMB)의 글로벌 운송 텔레메틱스 사업부를 인수하는 계약을 완료했습니다. 이 거래는 2024년 9월에 처음 발표되었습니다. 거래의 일환으로 Trimble은 Platform Science의 주주가 되며 이사회에 참여하여 C.R. England, Cummins, Daimler Truck 및 PACCAR과 같은 다른 전략적 투자자와 함께 합니다.
이번 협업은 Platform Science의 개방형 연결 차량 애플리케이션 플랫폼인 Virtual Vehicle의 확장에 집중하고 있습니다. 이 플랫폼은 차량 유형에 관계없이 OEM 차량 구조 또는 애프터마켓 하드웨어를 통해 다양한 텔레메틱스 및 관리 소프트웨어에 접근할 수 있도록 하여 균일한 경험을 제공합니다.
이 거래는 Trimble의 Connect and Scale 전략에 부합하며, 기업, 지도, Vusion 및 Transporeon 사업부와 같은 우선 성장 영역에 집중할 수 있게 해주며, 이들은 Trimble의 운송 및 물류 부문에 포함됩니다.
Platform Science a achevé l'acquisition des unités commerciales mondiales de télématique de transport de Trimble (NASDAQ: TRMB), un accord annoncé pour la première fois en septembre 2024. Dans le cadre de cette transaction, Trimble devient actionnaire de Platform Science et obtient un siège au conseil d'administration, rejoignant d'autres investisseurs stratégiques tels que C.R. England, Cummins, Daimler Truck et PACCAR.
Cette collaboration se concentre sur l'expansion de Virtual Vehicle, la plateforme d'application de véhicule ouvert et connecté de Platform Science. Cette plateforme permet aux flottes d'accéder à divers logiciels de télématique et de gestion via l'architecture des véhicules OEM ou du matériel aftermarket, offrant une expérience uniforme quel que soit le type de véhicule.
La transaction s'inscrit dans la stratégie Connect and Scale de Trimble, permettant à l'entreprise de se concentrer sur des domaines de croissance prioritaires, y compris les unités commerciales Enterprise, Maps, Vusion et Transporeon, qui restent partie intégrante du segment Transport et Logistique de Trimble.
Platform Science hat die Übernahme der globalen Telematikgeschäftseinheiten für den Transport von Trimble (NASDAQ: TRMB) abgeschlossen, eine Vereinbarung, die erstmals im September 2024 bekannt gegeben wurde. Im Rahmen der Transaktion wird Trimble Aktionär von Platform Science und erhält einen Sitz im Vorstand, zusammen mit anderen strategischen Investoren wie C.R. England, Cummins, Daimler Truck und PACCAR.
Die Zusammenarbeit konzentriert sich auf die Erweiterung von Virtual Vehicle, der offenen, vernetzten Fahrzeuganwendungsplattform von Platform Science. Diese Plattform ermöglicht Flotten den Zugriff auf verschiedene Telematik- und Managementsoftware über die OEM-Fahrzeugarchitektur oder Aftermarket-Hardware und bietet ein einheitliches Erlebnis, unabhängig vom Fahrzeugtyp.
Die Transaktion stimmt mit Trimble's Connect and Scale-Strategie überein, sodass das Unternehmen sich auf prioritäre Wachstumsbereiche konzentrieren kann, darunter die Geschäftsbereiche Enterprise, Maps, Vusion und Transporeon, die weiterhin Teil von Trimble's Transport- und Logistiksegment sind.
- Trimble gains equity stake and board representation in Platform Science
- Strategic alignment with major industry players as co-investors
- Transaction allows Trimble to focus on core growth areas
- Expansion of Virtual Vehicle platform increases market reach
- Divestment of telematics business units may impact Trimble's revenue stream
- Potential integration challenges in combining operations
Insights
The completion of Platform Science's acquisition of Trimble's global transportation telematics business marks a pivotal strategic transformation that warrants careful investor attention. This transaction demonstrates sophisticated deal structuring, where Trimble maintains strategic influence through board representation while joining an impressive roster of strategic investors including Daimler Truck, PACCAR and Prologis.
The deal's structure reveals three key strategic advantages:
- Portfolio Optimization: By divesting the telematics business, Trimble can redirect resources to higher-growth segments while maintaining exposure to the transportation technology sector through equity ownership
- Strategic Alignment: The transaction accelerates Trimble's Connect and Scale strategy, allowing focused investment in priority growth areas while potentially reducing operational complexity
- Market Position Enhancement: The partnership approach through Virtual Vehicle platform creates a more scalable and flexible business model, potentially leading to higher-margin recurring revenue streams
From an investor perspective, this strategic realignment positions Trimble to better capitalize on emerging opportunities in enterprise solutions and digital transformation. The retention of key business units - Enterprise, Maps, Vusion and Transporeon - suggests a deliberate focus on higher-margin, software-centric operations that could drive improved profitability metrics.
The involvement of top-tier financial advisors (Centerview Partners and Goldman Sachs) signals the transaction's strategic importance and complexity. While specific financial terms weren't disclosed, the deal structure suggests a thoughtful approach to value creation that balances immediate operational benefits with long-term strategic opportunities.
Accelerating the Future of Transportation Technology through the Global Expansion of Virtual Vehicle
Trimble and Platform Science Will Strengthen and Expand Their Ongoing Commercial Relationship as Part of This Agreement
(Graphic: Platform Science and Trimble)
As part of the transaction, Trimble becomes a shareholder in Platform Science’s expanded business and receives a seat on Platform Science’s board of directors. Trimble is joining C.R.
Customers around the globe will soon be able to choose application solutions from Platform Science, Trimble and numerous partners in a growing catalog without changing hardware through Virtual Vehicle's expansion. Virtual Vehicle offers fleets access to a wide range of telematics, driver and fleet management software through OEM vehicle architecture or aftermarket hardware for non-compatible vehicles, creating a uniform experience for users and developers and ensuring ease-of-use regardless of vehicle or hardware type.
“Together with Trimble, we are dedicated to transforming the global transportation industry. This transaction marks a milestone in how we deliver unprecedented choice to fleets of all sizes,” said Jack Kennedy, co-founder and CEO of Platform Science. “Innovation drives everything we do. We are empowering the collective minds of developers to easily attack the massive inefficiencies that have plagued transportation across a critical mass of vehicles globally.”
“As we move forward combining Trimble’s global telematics business units with Platform Science, our commitment to serving our customers has never been stronger,” said Rob Painter, president and CEO of Trimble. “This transaction creates opportunities for Trimble to further connect people, data, workflows and ecosystems across the global transportation lifecycle — from planning and procurement to execution and delivery.”
The transaction is expected to further strengthen and accelerate Trimble’s Connect and Scale strategy, providing additional focus on priority growth areas for Trimble — including the Enterprise, Maps, Vusion and Transporeon business units, which are not included in the transaction and will remain part of Trimble's Transportation & Logistics segment.
Advisors
J.P. Morgan Securities LLC acted as exclusive financial advisor to Platform Science and Gibson, Dunn & Crutcher LLP, Fish & Richardson LLP, Fenwick & West LLP acted as legal advisors to Platform Science.
Centerview Partners LLC and Goldman, Sachs & Co. LLC acted as financial advisors to Trimble, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Trimble.
About Platform Science
Platform Science is transforming transportation technology by empowering enterprise fleets with a unified, user-friendly technology platform. Platform Science makes it easy to develop, deploy, and manage mobile devices and applications on commercial vehicles, giving fleets an edge in efficiency, flexibility, visibility, and productivity. The customizable platform delivers an unlimited canvas to fleets and developers seeking to innovate and create new solutions as customers' needs, businesses, and industries evolve. Platform Science was named by Fast Company as one of the World's Most Innovative Companies and has twice been ranked #2 in the FreightTech 25 Awards by industry news leader FreightWaves. For more information, please visit www.platformscience.com.
About Trimble
Trimble is transforming the ways people move, build and live. Core technologies in positioning, modeling and data analytics connect the digital and physical worlds to improve our customers' productivity, quality, safety, transparency and sustainability. For more information about Trimble (Nasdaq: TRMB), visit: www.trimble.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the transaction, the value and benefits to Trimble of its equity stake in Platform Science and the commercial agreements entered into in connection therewith, and the development of technology, delivery of services and the business performance of each of Trimble and Platform Science following the transaction. These forward-looking statements are subject to change, and actual results may materially differ from those set forth in this news release due to certain risks and uncertainties. Factors that could cause or contribute to changes in such forward-looking statements include, but are not limited to (i) the inability to recognize the benefits from the anticipated commercial agreements entered into with Platform Science following the closing of the transaction, (ii) commercial developments by competitors, and (iii) the failure to realize the anticipated benefits of Trimble's equity stake in Platform Science. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements set forth in reports filed with the SEC, including Trimble's current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K, such as statements regarding changes in economic conditions and the impact of competition. Undue reliance should not be placed on any forward-looking statement contained herein. These statements reflect Trimble's position as of the date of this news release. Trimble expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in Trimble's expectations or any change of events, conditions, or circumstances on which any such statement is based.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250210358460/en/
Media Contacts
Platform Science
press@platformscience.com
Eric Harris
Trimble Inc.
eric_harris@trimble.com
Source: Platform Science
FAQ
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