April 28, 2010 (FinancialWire) — Trimble Navigation Ltd. (NASDAQ: TRMB) said it plans to launch a voluntary conditional takeover offer, under Belgian law, in order to acquire 100 percent of the shares in Punch Telematix NV at EUR 3.15 (roughly US$4.21 as of April 26, 2010) per share in cash.  

Punch International NV, Punch Telematix's largest shareholder, holds around 65 percent of the total shares outstanding of Punch Telematix and has made a binding commitment to tender its shares in Punch Telematix to the offer, according to Trimble.

Trimble said it is currently finalizing its bid notice and application file for the Belgian Banking, Finance and Insurance Commission and said it plans to be in a position to submit it for approval by the CBFA in the coming days.

California-based Trimble offers technology designed to allow field and mobile workers in businesses and government to be more productive. Its solutions are focused on applications requiring position or location — including surveying, construction, agriculture, fleet and asset management, public safety and mapping.

Trimble products use positioning technologies, such as GPS, lasers and optics, as well as software content specific to the needs of the user.  

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