Wabtec to Acquire Trimble’s Beena Vision Business to Extend its Digital Rail Inspection Portfolio
April 20 2022 - 7:00AM
Business Wire
Wabtec Corporation (NYSE: WAB), a leading global supplier for
freight and transit rail, announced today the company has signed a
definitive agreement to acquire Trimble’s Beena Vision business, a
manufacturer of machine vision-based wayside inspection systems for
the railroad industry. The acquisition is subject to customary
closing conditions and financial terms were not disclosed.
“Beena Vision’s systems, coupled with Wabtec’s TrackIQ
portfolio, will create a comprehensive wayside inspection
offering,” said Nalin Jain, President of Wabtec’s Digital
Electronics business. “TrackIQ's sensor-based systems and Beena
Vision's technologies combine to produce an industry-leading suite
of wayside inspection solutions. These solutions enable our
customers to monitor the health of their rolling stock assets,
which allows them to realize reductions in maintenance costs,
safety incidents and to increase fleet availability for revenue
generation.”
Beena Vision provides vision-based wayside detectors for the
rolling stock maintenance market. Its non-contact measurement
technology provides a highly detailed condition assessment of train
components — ranging from wheel surface condition to full train
inspection — while operating in service and at high speeds. Beena
Vision's wayside systems enable Train Operating Companies (TOCs) to
manage fleet maintenance through cutting-edge sensor and
image-based inspection systems. Real-time alarms, alerts, and
reports enable significant reductions in maintenance costs, improve
safety and increase fleet availability. Beena Vision systems are
installed at many major North American Class 1 railroads, as well
as other worldwide TOCs.
This deal will extend Wabtec’s unparalleled digital and
electronics portfolio, enhancing its ability to progress wayside
train condition monitoring, as well as supply chain and logistics
technology for railroad customers around the world.
“We set out to identify the ideal company to carry forward our
rolling stock wayside monitoring solutions and we have found that
company in Wabtec,” said Ron Bisio, Trimble’s senior vice president
with responsibility for rail. “Trimble will continue to develop
cloud-based Internet of Things (IoT) rail solutions for rolling
stock lifecycle management and will increase its focus on solutions
for railway infrastructure surveying, construction, and
maintenance, which are closely aligned to its core industry
segments.”
Beena Vision’s business has been reported as part of the Trimble
Transportation Segment. The sale will not have a material impact on
the segment or overall financial results.
About Wabtec
Wabtec Corporation (NYSE: WAB) is focused on creating
transportation solutions that move and improve the world. The
company is a leading global provider of equipment, systems, digital
solutions and value-added services for the freight and transit rail
industries, as well as the mining, marine and industrial markets.
Wabtec has been a leader in the rail industry for over 150 years
and has a vision to achieve a zero-emission rail system in the U.S.
and worldwide. Visit Wabtec’s website at
www.wabteccorp.com.
About Trimble
Trimble is an industrial technology company transforming the way
the world works by delivering solutions that enable our customers
to thrive. Core technologies in positioning, modeling, connectivity
and data analytics connect the digital and physical worlds to
improve productivity, quality, safety, transparency, and
sustainability. From purpose-built products to enterprise lifecycle
solutions, Trimble is 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, which
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, (i) timely satisfaction of various
conditions to closing the Beena Vision business divestiture, (ii)
whether the divestiture is completed on the intended timeline, or
at all, and (iii) the impact of the divestiture described above,
among others. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220420005233/en/
Media Contacts: Wabtec Amy Magee
Amy.Magee@Wabtec.com / 814-450-5724
Trimble Lea Ann McNabb LeaAnn.McNabb@Trimble.com /
408-481-7808
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