WASHINGTON (dpa-AFX) - Platform Science agreed to acquire Trimble's (TRMB) global transportation telematics business units. As part of the agreement, Trimble will become a shareholder in Platform Science's expanded business.
Upon the closing of the proposed transaction, Trimble will have a 32.5 percent stake in the newly expanded global Platform Science business and will receive a Platform Science board seat.
The divestiture is expected to be accretive to Trimble's organic revenue growth rate, organic ARR growth rate, gross margin and operating profit margin.
The proposed transaction is expected to close in the first half of 2025.
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