SUNNYVALE, Calif. - Trimble (NASDAQ: TRMB) announced today it has signed a definitive agreement to acquire privately-held Kuebix, a leading transportation management system (TMS) provider and creator of North America's largest connected shipping community. This acquisition will enable Trimble to bring together its network of private fleet and commercial carrier customers, which collectively represent more than 1.3 million commercial trucks in North America, with Kuebix's extensive community of more than 21,000 shipping companies, creating a powerful new platform for planning, execution and freight demand-capacity matching.
The transaction is expected to close in the first quarter of 2020, subject to customary closing conditions. Financial terms were not disclosed.
This acquisition will augment Trimble's comprehensive transportation technology portfolio and position Trimble to further its strategy to lead the industry's transformation.
"Combining Kuebix's innovative platform and rapidly-growing community of shippers with Trimble's history of innovation, strength and scale will provide a transformative transportation supply chain solution that creates new opportunities for collaboration throughout the logistics ecosystem," said James Langley, senior vice president, Trimble Transportation. "This combination will help carriers uncover inefficiencies in their network, make better decisions, optimize operations and transform the way the transportation industry works."
Today, shippers, carriers and intermediaries operate with fragmented TMS software. The Kuebix acquisition will allow Trimble to break down technology barriers, enable actionable visibility and improve collaboration by delivering a single logistics platform for all participants in the supply chain. This Software-as-a-Service (SaaS), multi-tenant, cloud platform will optimize the entire logistics process from order management to financial settlement, improving efficiency and asset utilization for carriers and giving shippers access to expanded capacity and reduced costs.
"For more than a decade, Kuebix has served shippers with supply chains of all sizes and complexities, transparently connecting them directly to their carriers for the pricing, service levels and visibility they need to run their businesses," said Dave Lemont, CEO of Kuebix. "We are excited to join Trimble and expand the investment in our platform to serve new audiences, and increase collaboration and savings for shippers and carriers alike."
"The combination of Trimble and Kuebix will accelerate the realization of our vision; a world where shippers, carriers and intermediaries leverage the same powerful TMS platform to provide the market with unprecedented levels of visibility and efficiency," said Dan Clark, founder and president, Kuebix. "A single-platform TMS across all transportation modes will make it easier for shippers and carriers to plan their strategy, design an optimized transportation network, improve execution, and more accurately manage settlements. When all players in the market work together, everyone wins."
Kuebix's business will be part of Trimble's Transportation Sector.
About Kuebix
Kuebix provides a transportation management system (TMS) that powers North America's largest shipping community. Kuebix is transforming the transportation industry with a common TMS platform for shippers, carriers and intermediaries that enables new levels of visibility and efficiency for the entire market. By connecting all logistics stakeholders on a single platform, shippers gain unprecedented access to available capacity and competitive pricing, while brokers and carriers increase their business and gain superior asset utilization. Kuebix is a modular solution that scales to meet the needs of supply chains of every size and level of complexity. Built on the latest cloud technology, Kuebix's connected platform simplifies ERP and other integrations, resulting in rapid onboarding and ROI. Kuebix is headquartered in Maynard, Mass.
About Trimble Transportation
Trimble Transportation is multi-modal and provides solutions for the long-haul trucking, field service management, rail and construction logistics industries to create a fully integrated supply chain. In trucking, Trimble provides enterprise and mobility solutions focused on business intelligence and data analytics; safety and regulatory compliance; navigation and routing; freight brokerage; supply chain visibility and final mile; transportation management and fleet maintenance. With an intelligent ecosystem of products and services, Trimble enables customers to embrace the rapid technological evolution of the industry and connect all aspects of transportation and logistics—trucks, drivers, back office, freight and assets. Through the combined legacy of ALK, PeopleNet, TMW Systems and 10-4 Systems, Trimble delivers an open, scalable platform to help customers make more informed decisions and maximize performance, visibility and safety. For more information about Trimble Transportation, visit: https://www.trimble.com/transportation-logistics/index.aspx.
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 and logistics. For more information about Trimble (NASDAQ:TRMB), visit: www.trimble.com.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the planned Kuebix acquisition and the timing thereof, the ability of Trimble to create the largest connected network of shippers and carriers within North America through the acquisition, and to develop a new, single-platform, transformative transportation supply chain solution that is adopted by customers and delivers the anticipated benefits, including improving efficiencies and asset utilization, reducing costs and optimizing operations. These forward-looking statements are subject to change, and actual results may materially differ from those set forth in this news release due to certain risks and uncertainties. Additional factors that could cause or contribute to changes in such forward-looking statements include, but are not limited to (i) failure to realize the anticipated benefits of the acquisition, (ii) Trimble's inability to successfully integrate Kuebix's TMS platform and connected shipping community with Trimble's other TMS solutions for private fleet and commercial carrier customers, (iii) unexpected expenditures or assumed liabilities that may be incurred as a result of the acquisition, (iv) loss of key employees or customers following the acquisition, (v) unanticipated difficulties in conforming business practices, including accounting policies, procedures and internal controls, and financial records, with Trimble, and (vi) failure to satisfy the conditions to the completion of the acquisition on the anticipated schedule, or at all. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements 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. Undue reliance should not be placed on any forward-looking statement contained herein. These statements reflect Trimble's position as of the date of this news release. Trimble expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in Trimble's expectations or any change of events, conditions, or circumstances on which any such statement is based.
