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Platform Science acquires Trimble's telematics business, promising more apps and better fleet tech, expected to be a historic freight tech deal.
Big news in freight tech. Platform Science is buying Trimble's global transportation telematics units. This deal is set to have a significant impact on the industry.
Platform Science may become the most successful freight tech firm to come out of the VC era… pic.twitter.com/vFLTKugPgN
— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) September 15, 2024
"This deal will result in significant synergies," says Rob Painter, Trimble's CEO. Translation? Expect cost savings and new opportunities.
This merger brings together two leading in-cab ecosystems to provide truckers and fleets with greater options.
The primary objective of this transaction is to enhance driver experience, fleet safety, operational efficiency, and regulatory compliance. By integrating these two advanced commercial vehicle platforms, customers will gain access to Trimble's Platform Science's Virtual Vehicle Marketplace. That means hundreds of new apps and a broader range of applications and services at their fingertips.
CEO Jack Kennedy calls it an "inflection point for a true platform approach." He's betting on choice driving innovation.
For now, watch out for the regulatory approvals. If all goes well, we'll see a new powerhouse in transport tech by mid-2025.
This merger could set new standards for in-cab technology. The excitement is certainly brewing:
This is smart on several levels...
— Santosh Sankar ⚡ (@santoshsankar) September 15, 2024
I have to imagine Platform Science has an ambition to go public and this brings scale, market leadership, and potentially accelerates profitability
Trimble is able to retain upside but also be an anchor in the scenario of a float that allows… https://t.co/5DY8XPz3zt
Source: Trimble
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