Trimble Completes Transporeon Acquisition

Rhea-AI Summary

Trimble (NASDAQ: TRMB) has successfully completed its acquisition of Transporeon, a transportation management platform serving over 150,000 carriers and 1,400 shippers globally.

This strategic move enhances Trimble's capabilities in freight management by integrating a suite of advanced tools for sourcing, planning, monitoring, and settlement. The acquisition was funded through senior notes, a term loan, existing credit facilities, and cash reserves. Transporeon will now be part of Trimble's Transportation Segment, showcasing its commitment to optimizing supply chain efficiency.

Positive

• Acquisition of Transporeon enhances Trimble's transportation management capabilities.
• Transporeon's platform connects over 150,000 carriers and 1,400 shippers, offering significant market expansion opportunities.
• The integrated suite of applications provides advanced tools for logistics operations, potentially increasing revenue.

Negative

• None.

WESTMINSTER, Colo., April 3, 2023 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today that it has completed its previously announced acquisition of Transporeon. As a leading cloud-based transportation management platform, Transporeon provides modular applications that power a global network for more than 150,000 carriers and 1,400 shippers and retailers with an integrated suite of best-in-class sourcing, planning, execution, monitoring and settlement tools. 

Trimble funded the transaction using a combination of financings it has previously announced including senior notes, a term loan, existing credit facilities and cash on hand.

Transporeon will be reported as part of Trimble's Transportation Segment.

About Transporeon

At Transporeon, a Trimble company, our mission is to bring transportation in sync with the world. We power the largest global freight network of more than 1,400 shippers and retailers and more than 150,000 carriers and logistics service providers. Every day they execute more than 110,000 transports on our platform and book more than 100,000 dock-appointments for loading and unloading. In the course of one year, roughly €55bn in freight is being processed on our platform. 

Our leading transportation management platform connects all actors along the supply chain. It facilitates collaboration between the different parties, helps to automate manual processes and provides valuable real-time insights. The modular Application Hubs solve specific logistics challenges and range from freight sourcing over transport execution and dock and yard management to freight audit and payment. Data hubs provide insights into logistics operations, market developments and carbon emissions, next to ensuring transparency in the supply chain through visibility. Our platform works across all geographies and all modes of transportation, empowering logistics teams to move, manage and monitor freight.

Transporeon is headquartered in Ulm, Germany, and maintains 18 offices around the globe with over 1,400 employees across 27 countries. For more information, visit:  www.transporeon.com.

About Trimble

Trimble is an industrial technology company transforming the way the world works by delivering solutions that enable our customers to thrive. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble is transforming industries such as agriculture, construction, geospatial and transportation. For more information about Trimble (NASDAQ: TRMB), visit:  www.trimble.com.

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View original content:https://www.prnewswire.com/news-releases/trimble-completes-transporeon-acquisition-301788152.html

SOURCE Trimble

FAQ

What is the significance of Trimble's acquisition of Transporeon?

The acquisition strengthens Trimble's transportation management capabilities by integrating advanced logistics tools and expanding its global market footprint.

How was the Transporeon acquisition funded by Trimble?

Trimble funded the acquisition using a combination of senior notes, a term loan, existing credit facilities, and cash on hand.

What is Transporeon's role in Trimble's business strategy?

Transporeon will enhance Trimble's Transportation Segment by providing a robust platform that optimizes freight management and supply chain efficiency.

When was the acquisition of Transporeon completed?

Trimble completed the acquisition of Transporeon on April 3, 2023.