Trimble announced it acquired the business of ThingMagic of Cambridge, Massachusetts. ThingMagic is a developer of radio frequency identification (RFID) technology and offers advanced development services to facilitate the integration of RFID into a wide range of applications. The acquisition expands Trimble's technology portfolio and will enable the company to provide additional productivity solutions in its served industries. Financial terms were not disclosed.
RFID technology is part of automated data collection, identification and location systems worldwide, addressing critical productivity needs across many industries. A pioneer in the UHF RFID market, ThingMagic will continue to offer high-performance fixed and embedded RFID readers and services to customers in a wide range of industry verticals from construction to transportation.
“Adding ThingMagic's RFID technology and system integration expertise will allow Trimble to build more comprehensive and capable solutions for its existing markets and potentially provide entry into new markets,” said Jürgen Kliem, VP of Trimble's strategy and business development. “Similar to the widespread integration of GPS into today's positioning solutions, we believe RFID can transform markets and is a natural complement to our existing technology portfolio.”
“We excel in deploying high-performance RFID technology into high-value solutions for customers” said Tom Grant, Chairman and CEO of ThingMagic. “Our RFID excellence combined with Trimble's global reach and domain expertise is a strong platform that can enable the next generation of RFID applications.”
The operating results of the acquired business will be reported within Trimble's Advanced Devices segment.