Trimble and Platform Science announced the completion of Platform Science's acquisition of Trimble's global transportation telematics business units. The deal was first announced in September 2024 during the Trimble Insight Tech Conference in Las Vegas.
As part of the transaction, Trimble becomes a shareholder in Platform Science's expanded business and receives a seat on Platform Science's board of directors. Trimble is joining C.R. England, Cummins, Daimler Truck, PACCAR, Prologis, RyderVentures and Schneider as a strategic investor in Platform Science. The collaboration accelerates the future of transportation technology through the global expansion of Virtual Vehicle, Platform Science's open, connected vehicle application platform developed in collaboration with leading OEMs.
Customers around the globe will soon be able to choose application solutions from Platform Science, Trimble, and numerous partners in a growing catalog without changing hardware through Virtual Vehicle's expansion. Virtual Vehicle offers fleets access to a wide range of telematics, driver and fleet management software through OEM vehicle architecture or aftermarket hardware for non-compatible vehicles, creating a uniform experience for users and developers and ensuring ease-of-use regardless of vehicle or hardware type.
"Together with Trimble, we are dedicated to transforming the global transportation industry. This transaction marks a milestone in how we deliver unprecedented choice to fleets of all sizes," said Jack Kennedy, co-founder and CEO of Platform Science. "Innovation drives everything we do. We are empowering the collective minds of developers to easily attack the massive inefficiencies that have plagued transportation across a critical mass of vehicles globally."
"As we move forward combining Trimble's global telematics business units with Platform Science, our commitment to serving our customers has never been stronger," said Rob Painter, president and CEO of Trimble. "This transaction creates opportunities for Trimble to further connect people, data, workflows and ecosystems across the global transportation lifecycle — from planning and procurement to execution and delivery."
The transaction is expected to further strengthen and accelerate Trimble's Connect and Scale strategy, providing additional focus on priority growth areas for Trimble — including the Enterprise, Maps, Vusion and Transporeon business units, which are not included in the transaction and will remain part of Trimble's Transportation & Logistics segment.
Advisors
J.P. Morgan Securities LLC acted as exclusive financial advisor to Platform Science and Gibson, Dunn & Crutcher LLP, Fish & Richardson LLP, Fenwick & West LLP acted as legal advisors to Platform Science.
Centerview Partners LLC and Goldman, Sachs & Co. LLC acted as financial advisors to Trimble, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Trimble.
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