(RTTNews) - Trimble Inc. (TRMB), a technology services provider, said on Wednesday that it has signed a deal to sell its Time and Frequency, LOADRITE, Spectra Precision Tools, and SECO accessories businesses to Precisional LLC, an affiliate of The Jordan Company or TJC, a private equity firm, for an undisclosed sum.
The sale is in line with Trimble's approach of focusing on areas critical to its long-term growth and strategic product roadmap. The transaction is expected to close in the second quarter of 2022.
Rob Painter, CEO of Trimble said: "Trimble is focusing its efforts on the company's connected industry platforms and digital transformation capabilities, making Precisional and TJC an ideal fit for the growth of the businesses."
TJC is in process to complete the acquisition in partnership with industry executive Drew Ladau to form Precisional LLC, a platform focused on precision measurement and data solutions.
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