SUNNYVALE, Calif., Dec. 11 (UPI) -- Trimble Navigation Ltd. is buying @Road Inc., a California company that specializes in Internet information services, for $496 million.
Trimble said Monday in a news release it expects to finance the cash portion of the deal from available borrowings under its existing bank credit facility, balance sheet cash and a new term loan.
The company said it expects to cut costs by sharing "common infrastructure elements" and to achieve growth objectives by "leveraging existing capabilities at little incremental cost." Examples include the "consolidation of data centers, the consolidation of product platforms, leveraging sales force and distribution channels, the utilization of Trimble's international infrastructure and the reduction of public company compliance costs."
Goldman, Sachs & Co. acted as the financial adviser to Trimble and J.P. Morgan Securities Inc. acted as financial adviser to @Road.