Trimble Navigation Ltd. ( TRMB ), an original equipment manufacturer (OEM) of positioning, surveying and machine control products, has completed the acquisition of Actronic Holdings Limited, a weighing solution company for an undisclosed sum.
New Zealand-based Actronic Holdings is a privately-held company that started its journey in 1979. It provides weighing technology and payload information systems for construction, aggregates, mining and waste markets. It offers the Loadrite software, which provides equipment operators, site foremen and project managers with accurate payload weights measurement, thus ensuring maximum utilization of the machines and improving project performance.
The acquisition will enhance Trimble's Connected Site product portfolio by providing information about the weight of the product. The enhancement to its offering will help contractors to gather real time information on assets and site productivity, which will improve operational efficiency and maximize profits.
Trimble has an aggressive merger and acquisition strategy. In 2012 itself, Trimble completed half a dozen acquisitions serving various business models. Earlier this year, Trimble acquired a 3-D modeling software platform from Internet search giant Google Inc. ( GOOG ). The company's acquisitions have helped it to build a desired portfolio, enhance its product line, boost its top line and position itself in markets with better growth prospects.
In the first quarter of fiscal 2013, Trimble earned revenues of $556.1 million. Revenues were up 7.9% sequentially and 10.7% year over year, missing the guided range of $575-$580 million in the quarter. Strengthening in the U.S. commercial and residential construction markets helped Trimble's business in the last quarter. Trimble has also made a number of acquisitions in the recent months, which are helping it to build a strong product portfolio and position itself in markets with better growth prospects.