Industrial technology company Trimble has agreed to acquire Transporeon, a cloud-based transportation management software platform, in an €1.88 billion, all-cash transaction from Hg, Transporeon’s majority shareholder.
Transporeon's software platform provides modular applications that power a global network for 145,000 carriers and 1,400 shippers and load recipients with an integrated suite of sourcing, planning, execution, monitoring and settlement tools.
Operating predominantly in Europe, as well as in developed markets across the Americas and Asia, Transporeon's open platform integrates with more than 3,000 global enterprise resource planning and transportation management systems,.
"Transporeon is a leading market player with a large TAM [total available market], profitable growth and a platform focused on connected supply chain infrastructure, all of which are highly aligned with Trimble's Connect & Scale strategy," said Rob Painter, Trimble CEO. "
“This transaction will give us the runway to take what we have created to the next level by uniting our powerful European platform with Trimble's North American carrier-focused platform,” said Stephan Sieber, Transporeon CEO.
The deal with Transporeon, expected to close in the first half of 2023, gives Trimble a company that may generate €190 million in revenue next year, Trimble said. In addition to a strong European footprint, Trimble will benefit from recurring transactional revenue, according to the company.