Sun Sep 15 12:16:45 UTC 2024: ## Trimble and Platform Science Partner to Transform Transportation Industry
**WESTHINSTER, Colo. and SAN DIEGO, Sept. 15, 2024** – Trimble Inc. (NASDAQ: TRMB) and Platform Science announced a strategic partnership aimed at revolutionizing the transportation industry. The agreement will see Platform Science acquire Trimble’s global transportation telematics business units, with Trimble becoming a major shareholder in the expanded Platform Science business.
This merger combines two cutting-edge in-cab commercial vehicle ecosystems, offering customers access to a wider range of applications and services. Trimble’s existing telematics customers will continue to benefit from their current solutions while gaining access to the Virtual Vehicle platform and marketplace, featuring hundreds of new applications and software providers. Platform Science customers will also benefit from access to Trimble’s broader portfolio of transportation solutions.
“We believe that combining our global transportation telematics portfolio with Platform Science’s will further advance fleet mobility and provide our customers with a broader portfolio of solutions to solve industry problems,” said Rob Painter, president and CEO of Trimble. “This partnership represents a significant step forward for our customers, employees, and the industry as a whole.”
“This partnership marks the inflection point for a true platform approach to transportation technology,” said Jack Kennedy, co-founder and CEO of Platform Science. “This finally empowers developers to easily address the endemic inefficiencies that have plagued transportation across vehicles globally.”
Trimble will hold a 32.5% stake in the expanded Platform Science business and will join other strategic investors like C.R. England, Cummins, Daimler Truck, PACCAR, Prologis, RyderVentures, and Schneider.
The transaction is expected to close in the first half of 2025, subject to customary closing conditions and regulatory approvals.
**About Trimble**
Trimble is a leading provider of technology solutions that connect the digital and physical worlds. Their core technologies in positioning, modeling, and data analytics help improve productivity, quality, safety, transparency, and sustainability for customers across various industries.
**About Platform Science**
Platform Science empowers enterprise fleets with a unified technology platform that simplifies the development, deployment, and management of mobile devices and applications on commercial vehicles. Their platform offers fleets a competitive advantage in efficiency, flexibility, visibility, and productivity.
**Financial Impact:**
Trimble’s global telematics business units generated approximately $300 million in revenue and $30 million in operating profit on a trailing twelve-month basis. The divestiture is expected to be accretive to Trimble’s organic revenue growth rate, organic ARR growth rate, gross margin, and operating profit margin.
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