SUNNYVALE, Calif. and
TUSCALOOSA, Ala., June 16, 2021 /PRNewswire/ -- Trimble
(NASDAQ: TRMB) and Randall-Reilly LLC ("Randall-Reilly")
announced today that Randall-Reilly, a leading B2B data and
analytics platform for transportation, construction, agriculture
and other industrial markets, has entered into a definitive
agreement to acquire Trimble's Iron Solutions business. The
transaction is expected to close in the third quarter of 2021.
Financial terms were not disclosed.
Iron Solutions serves the heavy equipment industry, providing
market information, analytics-based intelligence and cloud-based
enterprise systems to facilitate equipment transactions and improve
dealer and lender productivity.
"EDA by Randall-Reilly is a leading equipment market
intelligence platform and last year we
launched equipmentexperts.com, a disruptor in used equipment
merchandising," said Matt Reilly,
president and CEO of Randall-Reilly. "The addition of Iron
Guides, a market standard for used equipment valuation among
lenders enables us to super-serve both our dealer and buyer
audiences."
"We are continually evaluating our portfolio of businesses as we
work on the execution of Trimble's Connect and Scale 2025
strategy," said Rob Painter, president and CEO of Trimble. "As
we refocus our efforts on Trimble's core capabilities, Iron
Solutions will be an ideal fit with Randall-Reilly's existing
portfolio of market intelligence solutions."
Trimble's Iron Solutions business has been reported as part of
the Resources and Utilities Segment. The sale will not have a
material impact on Trimble's segment or overall financial
results.
BrightTower served as financial advisor to Randall-Reilly.
About Randall-Reilly
Randall-Reilly is a leading B2B data and analytics platform for
transportation, construction, agriculture and other industrial
markets. Their proprietary data and analytics platforms, with
equipment-level intelligence, build exclusive market insights and
drive exceptional outcomes. More than 4,400 clients in sales,
marketing, and recruiting utilize Randall-Reilly's data-driven
platforms, services, and media to reach their audiences.
Headquartered in Tuscaloosa,
Alabama, the company also has offices in Charlotte, North Carolina; Draper City,
Utah; Brookfield, Wisconsin; Anniston, Alabama; and Lakewood, New Jersey. For more information,
visit: www.randallreilly.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.
This press release contains forward-looking statements
regarding the business operations and prospects of Trimble,
including the impact of the Iron Solutions business divestiture.
These forward-looking statements are subject to change, and actual
results may materially differ due to certain risks and
uncertainties. Factors that could cause or contribute to changes in
such forward-looking statements include, but are not limited to
timely satisfaction of various conditions to closing the
divestiture, and whether the divestiture is completed on the
intended timeline, or at all. More information about potential
factors which could affect Trimble's business and financial results
is set forth in reports filed with the SEC, including Trimble's
quarterly reports on Form 10-Q and its annual report on Form 10-K.
All forward looking statements are based on information available
to Trimble as of the date hereof, and Trimble assumes no obligation
to update such statements.
GTRMB
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SOURCE Trimble