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About Trimble Inc.

Trimble Inc. makes equipment to prepare a site for construction, build the building, manage it once built, and keep track of vehicles and workers. The company makes GPS, Global Navigation Satellite System, laser, and optical technologies and software that help guide and track machines, equipment, parts, and people. The company's products target areas such as agriculture, architecture, civil engineering, survey, construction, geospatial, government, natural resources, transportation, and utilities. Trimble sells to end users, such as government entities, farmers, engineering and construction firms as well as equipment manufacturers.

Operations

Trimble's operating segments are Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation.

The Buildings and Infrastructure segment (about 40% of revenue) focuses on civil engineering and construction and building construction. The Trimble building construction portfolio of solutions for the commercial and industrial building industry spans the entire life cycle of a building and is used by owners, architects, designers, general contractors, sub-contractors, engineers, and facility owners or lessees.

The Transportation segment (almost 25% of revenue) is multi-modal and provide capabilities for the long-haul trucking, field service management, rail, and construction logistics industries to create a fully integrated supply chain and connect all aspects of transportation and logistics trucks, drivers, back office, and freight.

The Geospatial segment (around 20% of revenue) is composed of the company's surveying and geospatial offerings and geographic information systems.

The Resources and Utilities segment (over 15% of revenue) digs into agriculture, forestry, and utilities.

Trimble makes its own laser and optics-based products as well as some GPS products. The company sends the rest of its hardware manufacturing work to Flex Limited, Benchmark Electronics Inc., and Jabil.

Overall, the company generates almost 60% of its revenue from products, while the remainder is evenly split between services and subscriptions.

Geographic Reach

Besides its US operations, California-based Trimble Inc. has facilities in Canada, China, India, New Zealand, and several European countries. Domestically, the company has locations in Dayton, Ohio and Westminster, Colorado.

The company currently has a physical presence in over 40 countries and distribution channels over 85 countries.

Sales and Marketing

Trimble Inc. sells through indirect channels, including distributors, dealers, and authorized representatives. Its key distribution partners include CNH Global, Caterpillar, and Nikon. The company supports sales channels from its regional sales offices throughout the world.

Trimble's major markets include agriculture, building construction, civil engineering and construction, geospatial, transportation, government, forestry, rail, field service management, telecommunications, electric and water utilities as well as many others.

Financial Performance

Trimble Inc.'s revenue has been increasing for the last five years.

Sales climbed 5%, rising about $156 million to $3.3 billion in 2019 from 2018. Overall revenue increased due to organic growth in Buildings and Infrastructure and to a lesser extent, Transportation and Resources and Utilities, partially offset by a decrease in Geospatial. Acquisitions, including Viewpoint, contributed to growth particularly in the service and subscription revenue.

The higher revenue boosted profit to $514.5 million in 2019 from $283.3 million in 2018.

Trimble had $189.2 million in cash in 2019 compared to $172.5 million in 2018. In 2019, operations produced $585 million, investing activities used $275 million, and financing activities used $293 million.

Strategy

Trimble's growth strategy is centered on multiple elements: Focus on attractive markets with significant growth and profitability potential; Domain knowledge and technological innovation that benefit a diverse customer base; Increasing focus on software and services; Geographic expansion with localization strategy; Optimized go-to-market strategies to best access its markets; and Strategic acquisitions.

The company continues to develop its data and software for agriculture applications that provide farmers with real-time field conditions and other information for better managing resources and raising crop yields. The company has consolidated several its agriculture software brands and platforms into a single package, Trimble Agricultural Software. It is designed to integrate all the information on the farm for the farmer, who can share it with advisors, suppliers, and purchasers.

Trimble revved its acquisition engine in 2017 and into 2018, making about 10 deals that brought new technologies into all parts of the company. The company has concluded more than 25 deals since 2015. Recent acquisitions were made to add capabilities that extend beyond navigation.

Mergers and Acquisitions

In late 2019, Trimble acquired Cansel Survey Equipment's Can-Net and AllTerra New Zealand's iBase networks. The acquisitions significantly increase the global footprint of Trimble-owned Virtual Reference Station (VRS) networks by adding key geographies in North America and New Zealand.

Also in late 2019, Trimble signed a definitive agreement to acquire privately-held Azteca Systems LLC, a leading provider of enterprise asset management (EAM) software for utilities and local government. Cityworks' solutions address the global challenges associated with maintaining and replacing aging utility, transportation, and public assets and infrastructure. The Cityworks acquisition will expand Trimble's strategy by adding an EAM software platform to its existing utilities and local government capabilities, which include mobile, IoT and infrastructure lifecycle solutions.

In 2019 Trimble acquired 3LOG Systems Inc., a supplier of timber management software. The products made by 3LOG complement Trimble's forestry software portfolio and will expand the Trimble Connected Forest product. 3LOG has more than 500 installations and provides business software for timber management, wood product, and bio-energy companies in North America. Its software manages millions of annual supply chain transactions.

Trimble Inc.

935 Stewart Dr
Sunnyvale, CA 94085-3913
Phone: 1 (408) 481-8000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: TRMB
Stock Exchange: , NASDAQ
President and CEO: Steven W. Berglund
Chairman: Ulf J. Johansson
Vice Chairman: Nickolas W. Vande Steeg
Employees (This Location): 750
Employees (All Locations): 11,484

Major Office Locations

Sunnyvale, CA

Other Locations

Huntsville, AL
Carlisle, AR
Jonesboro, AR
Tempe, AZ
Sunnyvale, CA
Boulder, CO
Englewood, CO
Westminster, CO
Newark, DE
Bedford, MA
Marlborough, MA
Woburn, MA
Marquette, MI
Cleveland, OH
Dayton, OH
Oklahoma City, OK
Portland, OR
Tigard, OR
Knoxville, TN
Lubbock, TX
Plano, TX
Provo, UT
Salem, VA
Williamsburg, VA
Chennai, India
Gurgaon, India
Pune, India
Kanata, Canada
Saskatoon, Canada
Winnipeg, Canada
Paris, France
Moscow, Russia
Ieper, Belgium
Kajaani, Finland
Kuhmoinen, Finland
Berlin, Germany
Greven, Germany
Schenefeld, Germany
Zürich, Switzerland