Trimble and Hilti Form Joint Venture (TRMB)

Trimble TRMB and the Hilti Group announced today that they have reached a definitive agreement to form Intelligent Construction Tools, LLC. The joint venture, 50 percent owned by Trimble and 50 percent owned by Hilti, will focus on leveraging technologies from both companies to develop measuring solutions for the building construction trades. Under the terms of the agreement, Trimble and Hilti will contribute cash and selected technology. In addition, both companies have licensed patents and other intellectual property from their portfolios for use in joint venture products. The proprietary technologies will serve as the joint venture's foundation for product development and commercialization efforts.