- MiX Telematics ( NYSE: MIXT ) has signed a deal to acquire Trimble's ( NASDAQ: TRMB ) Field Service Management business, announced the fleet management solution company on Thursday.
- Financial terms of the deal were not disclosed. The acquisition will be immediately accretive to MiX ( MIXT ) and bring over 40,000 members to its subscriber base.
- Trimble's FSM business has been reported as part of the Trimble Transportation segment. The sale will not have a material financial impact on the segment or Trimble's overall financial results.
- Commenting on the deal, MiX Telematics CEO Stefan Joselowitz said, "The MiX and Trimble Field Service Management teams are working very closely together to ensure a seamless transition. The combination adds significant scale to our North American telematics subscriber base while diversifying that business into additional industry verticals. North America is a strategic priority for MiX, and we are well positioned to pursue M&A opportunities to bolster our regional organic growth investment."
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MiX Telematics to acquire Trimble's field service management business