M&A  January 4, 2024

Trimble sells water-monitoring assets to focus on core businesses

WESTMINSTER — Industrial technology company Trimble Inc. (Nasdaq: TRMB) recently offloaded some of its water-monitoring hardware and software assets to Badger Meter Inc.

The deal, financial terms of which were not disclosed, “is in line with Trimble’s strategy to focus on areas core to its long-term growth and strategic product roadmap,” the company said in a news release. 

Not included in the asset sale were Trimble’s water-related businesses that serve marine construction, infrastructure monitoring and surveying industries. 

“We are continually evaluating our product portfolio as we work on the execution of Trimble’s connect and scale strategy,” Trimble CEO Rob Painter said in the release. “This sale of our remote monitoring solution to Badger Meter enables growth strategies for both businesses.”

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