Trimble Navigation (TRMB - Analyst Report), an original equipment manufacturer of positioning, surveying and machine control products, recently acquired the assets of privately-held MAYBIM. The financial terms of the deal were not disclosed.
Based in Provo, UT, MAYBIM is a virtual design and construction technology company that provides 3D Building Information Modeling (BIM) services to mechanical, electrical and plumbing (MEP) contractors across the U.S.
MAYBIM’s expertise in 3D BIM services along with Trimble’s own BIM services team will help MEP contractors to better monitor the physical and functional characteristics of places. The clients will have a better idea of factors like cost management, construction management, project management and facility operation.
Upon the completion of the deal, the MAYBIM business will be reported under Trimble's Engineering and Construction (E&C) segment. The acquisition will enable Trimble to provide improved 3D BIM services and better deal with the increasing complexity of the E&C industry.
Trimble has an aggressive merger and acquisition strategy. In 2013, Trimble completed more than half a dozen acquisitions serving various business models. Last month, Trimble acquired WeoGeo, a leading company that offers technology to transform high quality precision data into actionable intelligence. In Dec 2013, Trimble acquired the assets of an agricultural software firm C3, which promotes sustainable farming methods by combining crop information with detailed soil data, enabling better yield, quality and productivity of the crop.
The company’s acquisitions have helped it to enhance its product line and boost its top line.
In the first quarter of fiscal 2014, Trimble earned revenues of $604.7 million. Revenues were up 0.9% sequentially and 8.7% year over year, driven by strong performance in the Field Solutions and Advanced Devices segments.
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