Trimble has entered into a definitive agreement to acquire SketchUp, Google's popular 3D modeling tool. The transaction is expected to close in the second quarter of 2012, subject to customary closing conditions and expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
While financial terms are not being disclosed the transaction is not expected to be material to 2012 earnings per share.
SketchUp is used for designing, modeling and visualizing projects. As part of the SketchUp platform, Trimble will also partner with Google on running and further developing SketchUp s 3D Warehouse, an online repository where users can find, share, store and collaborate on 3D models. The site enables users to create collections of models, including 3D Buildings, and share them with fellow modelers around the world. Individual models can be loaded, saved and viewed in 3D from within SketchUp or a web browser. For the foreseeable future, Google will host and operate the 3D Warehouse for Trimble and together the companies will continue to offer the same capabilities, functions and services that are offered today. The ability for users to submit 3D Buildings for potential acceptance and viewing in Google Earth will be maintained. Currently the 3D Warehouse has almost two million user-generated models.
SketchUp and the corresponding 3D Warehouse provide an important element of our long term strategy by enhancing the integration of our field presence with the wider enterprise, said Bryn Fosburgh, Trimble vice president. Trimble has already created the de-facto standard for field data models and project management tools for our key markets. SketchUp, together with these existing capabilities, will provide a stand-alone and enterprise solution that will enable an integrated and seamless workflow to reduce rework and improve productivity for the customer. Users will be able to collect data, design, model, and collaborate on one platform. The combined capability will enhance our ability to extend our existing market applications including the cadastral, heavy civil, and building and construction industries. In addition, the SketchUp platform will enable Trimble, third-party developers and our distribution partners to efficiently develop new applications.
For more information, visit Trimble.
Sources: Press materials received from the company and additional information gleaned from the company's website.