Trimble (Nasdaq: TRMB) today announced that the stockholders of @Road, Inc. have approved and adopted the Agreement and Plan of Merger, dated December 10, 2006, by and among Trimble, @Road and Roadrunner Acquisition Corp., and approved the merger. Stockholders holding approximately 72 percent of the total number of shares of @Road issued, outstanding and entitled to vote at the meeting voted in favor of the agreement and the merger.
Following the approval of @Road stockholders, Trimble completed its acquisition of @Road for a total purchase price of approximately $493.1 million. Under the terms of the agreement and Trimble's previously announced determination of the merger consideration, @Road common stock holders will receive $5.00 in cash and 0.0447 shares of Trimble common stock for each outstanding share of @Road common stock.
Effective after the close of market today and with the closing of the transaction, trading in @Road common stock on the NASDAQ stock market will cease. Trimble will promptly arrange for a letter of transmittal to be sent to each registered @Road stockholder that will inform such stockholder where to deliver @Road stock certificates in order to receive the merger consideration.
Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location-including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978 and headquartered in Sunnyvale, Calif., Trimble has a worldwide presence with more than 2,800 employees in over 18 countries.
For more information, visit at www.trimble.com