Trimble Navigation (TRMB - Free Report) , an original equipment manufacturer of positioning, surveying and machine control products, recently acquired privately-held Mining Information Systems (MIS). The financial terms of the deal were not disclosed.
Headquartered in Perth, Australia, MIS provides enterprise-level information required for monitoring and management of mining and ore processing operations. MIS collects, analyzes and integrates data across functional areas enabling mining customers to take better decisions. The systems are flexible and scalable and are widely used across geographies and commodities in some of the world's largest mines.
The use of MIS’ geospatial technology, productivity and other cost-related information will enhance Trimble’s mining solutions and help it better deal with the increasing complexity of the mining industry.
MIS’ enterprise-level information management capabilities, along with Trimble’s own geospatial solutions, will increase the productivity and profitability of the mining business. The clients will have a better idea of cost management, mineral resource data management and facility operation, including geospatial, productivity and workforce within the mine.
Trimble has an aggressive merger and acquisition strategy. In 2013, Trimble completed more than half a dozen acquisitions serving various business models. Last week, Trimble acquired the assets of privately-held MAYBIM, which provides 3D Building Information Modeling services to mechanical, electrical and plumbing contractors across the U.S. In May 2014, Trimble acquired WeoGeo, a leading company that offers technology to transform high quality precision data into actionable intelligence.
The company’s acquisitions have helped it to enhance its product line and boost 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.
Other stocks that are performing well at the current levels include Universal Electronics Inc. (UEIC - Free Report) and Exar Corp. (EXAR - Free Report) , sporting a Zacks Rank #1 (Strong Buy), while GigOptix, Inc. (GIG - Free Report) , carrying a Zacks Rank #2 (Buy).