Monday, December 11, 2006

Trimble Buys @Road For $496M

Sunnyvale-based Trimble said late last night that it is acquiring Fremont-based @Road, in a deal worth $496M. Trimble, a provider of navigation and mobile applications, said that the deal calls for it to acquire all oustanding shares of @Road for $7.50 per share, in a mixture of cash and stock. The firm said the acquisition will expands its invesment and growth strategy in the mobile solutions market. Trimple was advised by Goldman, Sachs & Co. in the deal; @Road was advised by J.P. Morgan Securities.