Trimble announced today it will acquire privately-held Meridian Project Systems. Meridian provides enterprise project management software for real estate, construction and other physical infrastructure projects. Financial terms of the transaction were not disclosed. Closing of the transaction, anticipated in the fourth quarter of 2006, is subject to usual and customary closing conditions.
This is the seventh acquisition of assets or companies by Trimble in 2006. The company is aggressively acquiring assets to build its Connected Construction Site strategy. Trimble is assembling a suite of software, hardware and services with a goal of providing construction firms a one-stop shop for efficiency improvements through a tighter integration of construction process information. Others companies or assets acquired this year:
- Visual Statement (public safety)
- BitWyse (3D laser scanning)
- Eleven Technology (mobile workforce management)
- Quantm (civil engineering)
- The XYZ’s of GPS, Inc. (GPS technology)
- Advanced Public Safety, Inc. (Mobile workforce technology)
In 2003 AECnews commented on Meridian:
“Meridian Project Systems has quietly assumed a leadership role in the world of construction-management software for large companies. We don’t think firms with more general orientations, such as Oracle and SAP, will be able to compete effectively with MPS’s industry-specific features and culture.”
“Meridian Systems has successfully built a strong market position and has demonstrated profitable revenue growth,” said Bryn Fosburgh, vice president of Trimble’s Engineering and Construction segment. “The Meridian Systems acquisition provides Trimble an information platform for growth in the enterprise project management market and is a significant step forward in realizing our Connected Construction Site initiatives.”
“We are pleased to join Trimble,” said James Olsen, CEO of Meridian Systems. “For Meridian, the acquisition provides us with solid financial backing and the organizational infrastructure to further penetrate key vertical markets and expand globally. For Trimble, we believe the acquisition enhances its Connected Construction Site strategy by adding a core enterprise business software competency to facilitate the delivery of information throughout the entire plan, build and operate life cycle.”
--RSN