STOCK TITAN

Trimble VRS Now Network Covers More than One Million Square Miles in North America with the Acquisition of MidStates VRS

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Rhea-AI Summary

Trimble (NASDAQ: TRMB) announced its acquisition of MidStates VRS, enhancing its VRS Now GNSS corrections service coverage to over one million square miles across North America. This acquisition, which adds 105,000 square miles, aligns with Trimble's expansion strategy, providing high-accuracy positioning for agriculture, geospatial, and construction sectors, as well as emerging autonomous applications. The service allows users to achieve centimeter-level accuracy without a base station, aiming to improve productivity and safety. Financial terms of the acquisition were not disclosed.

Positive
  • Acquisition expands coverage of VRS Now to over one million square miles.
  • Enhances positioning services for agriculture, construction, and geospatial sectors.
  • Aligns with Trimble's strategic shift towards software and subscription services.
Negative
  • None.

SUNNYVALE, Calif., Sept. 14, 2020 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today that it has acquired MidStates VRS, a network previously owned by Butler Machinery and Frontier Precision. The addition of the network, located in North and South Dakota, increases the footprint of Trimble's VRS Now® GNSS corrections service to cover more than one million square miles in North America. Financial terms were not disclosed.

As part of an ongoing expansion strategy, the new coverage for the VRS Now subscription service helps users in more places achieve high-accuracy positioning to increase productivity, reduce operational costs and improve safety. The correction service is ideal for professionals in agriculture, geospatial and construction as well as emerging autonomous applications including lane-keeping for passenger vehicles, Vehicle-to-Anything (V2X) position identification and unmanned aerial system guidance.

Adding 105,000 square miles of coverage, the acquisition expands Trimble's VRS Now network to be one of the largest in North America—over one million square miles, contributing to Trimble's shift toward a software, services and subscription business emphasis. When using the Trimble VRS Now service, land and construction surveyors, GIS professionals and farmers—with a Trimble or third-party commercial GNSS receiver—can leverage instant high-accuracy corrections delivered via cellular network to improve productivity. Enabling users to work without a GNSS base station, the service is cost-effective and simple to use. It is ideal for a variety of applications that require sub-inch level accuracy and is an important component of the connected construction site and connected farm workflows.

"The MidStates VRS network covers significant farmland, oil fields and rapidly developing urban areas, providing farmers and surveyors in the region with the real-time GNSS correction services they need to improve their day-to-day work," said Patricia Boothe, senior vice president of Trimble's Autonomy Sector. "The purchase of the MidStates network demonstrates Trimble's ongoing commitment to provide a wide range of correction services for autonomous solutions—delivering unmatched access to fast, reliable and highly accurate positioning in more areas than ever before."

Trimble networks are supported by a global network operations team made up of GNSS system engineers, geodesy experts and IT professionals. The team monitors the networks 24/7 from operation centers located on three continents, providing consistent and reliable service uptime and performance integrity.

About Trimble VRS Now

Trimble VRS Now offers instant access to centimeter-level positioning tailored to the users' geographic location; the service is always on wherever and whenever needed within the network coverage area. With no base station or setup required, it is cost-effective, efficient and simple to use. VRS provides positioning professionals with instant access to Real-Time Kinematic (RTK) and Post-Processing (PP) corrections utilizing a network of permanent (fixed) continuously operating reference stations (CORS). To find out more:  https://positioningservices.trimble.com/services/vrs/vrs-now.

Availability

Trimble-owned VRS networks are accessible now in areas throughout the U.S. and Canada as well as Eastern Australia and Tasmania, France, Belgium, the Czech Republic, Estonia, Germany, Great Britain, Ireland, Luxembourg, the Netherlands, Sweden and New Zealand.

VRS Now subscriptions are available through Trimble's Authorized Business Partners or Trimble's online store at:  tpsstore.trimble.com.

About Trimble

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

GTRMB

Cision View original content:http://www.prnewswire.com/news-releases/trimble-vrs-now-network-covers-more-than-one-million-square-miles-in-north-america-with-the-acquisition-of-midstates-vrs-301129657.html

SOURCE Trimble

FAQ

What is Trimble's recent acquisition involving TRMB?

Trimble acquired MidStates VRS, enhancing its VRS Now GNSS corrections service.

How much additional coverage does the MidStates VRS acquisition provide?

The acquisition adds 105,000 square miles to Trimble's existing coverage.

What sectors benefit from Trimble's VRS Now service after the acquisition?

Main beneficiaries include agriculture, geospatial, construction, and autonomous applications.

What are the expected impacts of the MidStates VRS acquisition on TRMB?

The acquisition is expected to improve productivity and safety for users by providing high-accuracy positioning.

What is the strategic importance of acquiring MidStates VRS for Trimble?

It supports Trimble's expansion strategy and shift towards a software, services, and subscription business model.

Trimble Inc.

NASDAQ:TRMB

TRMB Rankings

TRMB Latest News

TRMB Stock Data

17.52B
243.31M
0.34%
96.84%
1.28%
Scientific & Technical Instruments
Measuring & Controlling Devices, Nec
Link
United States of America
WESTMINSTER