Trimble To Acquire Viewpoint From Bain Capital In $1.2 Bln Deal - Quick Facts

(RTTNews) - Trimble (TRMB) announced a definitive agreement to acquire privately-held Viewpoint from Bain Capital in an all-cash transaction valued at $1.2 billion. The purchase price is expected to be funded through a combination of cash on hand and new indebtedness.

Viewpoint is a provider of scalable construction management software, which integrates a contractor's financial and resource management to their project operations and to their jobsite and field. Viewpoint has approximately 8,000 customers worldwide, including many from the Engineering News-Record (ENR) 400 and 600 top tier construction firms. The Viewpoint business will be reported as part of Trimble's Buildings and Infrastructure Segment.

Trimble expects Viewpoint to contribute approximately $200 million of non-GAAP revenue in 2019 with operating cash flow of greater than $50 million and non-GAAP operating margin exceeding 20 percent. Including interest expense, the acquisition is expected to be accretive to Trimble's operating cash flow in 2019. Trimble expects the acquisition to be slightly dilutive to non-GAAP net income per share in 2019 due to estimated interest expense, and accretive to non-GAAP net income in 2020.

Trimble also announced that it expects first-quarter revenue to be above the high end of the range of guidance issued on its fourth quarter 2017 earnings conference call.