Trimble Navigation Ltd has agreed to purchase privately held software maker TMW Systems Inc for $335 million in cash.
California-based firm Trimble is known for its advanced positioning solutions, including GPS receivers, rangefinders and navigation systems. Its products are generally focused on the mobile, fleet, construction and scientific markets.
It has agreed to buy transport and logistics enterprise software company TMW Systems, but has said that the purchase will hurt its fourth-quarter profit by between one and three cents per share.
In light of the move, Trimble has adjusted its 2013 projected earnings to between 12 cents and 14 cents per share.
Founded in Ohio, TMW Systems develops enterprise management software targeted at the transportation industry. This includes the logistics, freight, trucking and heavy-duty repair and maintenance markets. It currently offers four categories of enterprise solutions; enterprise transportation software, optimization, asset maintenance and appian logistics software.
Trimble's revenues have risen from approximately $270 million in 1999 to over $1.5 billion in 2011.