Reported Sunday, Trimble Sells Global Telematics Business To Platform Science, Joins As Key Investor In Transportation Tech Expansion
Portfolio Pulse from Benzinga Newsdesk
Trimble has sold its global telematics business to Platform Science and will become a key investor with a 32.5% stake in the expanded business. This move is expected to positively impact Trimble's financial metrics.
September 16, 2024 | 7:23 am
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Trimble has divested its global telematics business to Platform Science, acquiring a 32.5% stake and a board seat in the expanded company. This transaction is expected to enhance Trimble's organic revenue growth, ARR growth, and profit margins.
The sale of the telematics business allows Trimble to focus on its core operations while benefiting from a significant stake in Platform Science. The transaction is expected to improve Trimble's financial metrics, including revenue and profit margins, making it a positive development for the company.
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