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Platform Science to acquire Trimble's Global Transportation Telematics Business Units

Sep 15, 2024•over 1 year ago

Acquiring Company

Platform Science

Acquired Company

Trimble

San DiegoWestminsterAutomotiveTransportationSoftwareSoftware

Description

Platform Science has announced its definitive agreement to acquire Trimble's global transportation telematics business units. The acquisition aims to drive the future of transportation in-cab technology and accelerate the global expansion of the Virtual Vehicle platform. Additionally, Trimble will become a shareholder in Platform Science's expanded business.

Company Information

Company

Platform Science

Location

San Diego, California, United States

About

Platform Science is transforming transportation technology by empowering enterprise fleets with a unified, user-friendly technology platform. Platform Science makes it easy to develop, deploy, and manage mobile devices and applications on commercial vehicles, giving fleets an edge in efficiency, flexibility, visibility, and productivity. The customizable platform delivers an unlimited canvas to fleets and developers seeking to innovate and create new solutions as customers' needs, businesses, and industries evolve. Platform Science was named by Fast Company as one of the World's Most Innovative Companies and has twice been ranked #2 in the FreightTech 25 Awards by industry news leader FreightWaves.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed