Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 26, 2024

Article Excerpt

TRIMBLE INC., $50.98, symbol TRMB on Nasdaq, mainly provides advanced GPS positioning systems for auto fleets and other business clients. It also sells connectivity, modelling, analytics and autonomous driving solutions. The company serves a range of industries, including civil engineering, construction, agriculture, natural resources, transportation and government. On January 3, 2024, Trimble announced it had completed the sale of its water monitoring assets to Badger Meter Inc. The deal includes the Telog brand of RTUs (remote telemetry units) and the Trimble Unity remote monitoring software. It will, however, retain its water-related businesses serving the marine construction, infrastructure monitoring and surveying firms. The sale is part of the company’s long-term Connect and Scale strategy, which focuses on putting users and customers at the centre of everything it does. In the three months ended September 30, 2023, Trimble’s revenue rose 8.2%, to $957.3 million from $884.9 million a year earlier. The company’s subscription revenue increased 24.5% to $513.3 million. Trimble continues to transition from a one-time…