Trimble Navigation makes $450 million offer for Tekla Corp

California-based business technology specialist Trimble Navigation Limited has announced a public tender offer for Tekla Corporation, a leader in building information modeling technology (BIM) for the construction industry.

Headquartered in Finland, with a US office in Atlanta, Georgia, Tekla has approximately 500 employees and operations in 15 countries worldwide.

Trimble’s offer of €15.00 per share in cash is being handled by its subsidiary Trimble Finland Oy, and values Tekla at approximately €311 million ($451 million).

"Trimble's offer represents an attractive value to Tekla's shareholders and reflects Tekla's improving business and financial performance while providing an outstanding opportunity to accelerate Tekla's global growth,” said Olli-Pekka Laine, Tekla's chairman.

“Significant value to the customer is to be gained if Tekla becomes a part of the Trimble organization. The board of directors and the management of Tekla are of the opinion that this is a beneficial development for Tekla's shareholders, customers and employees."

"The addition of Tekla will enhance Trimble's current construction software portfolio by expanding our BIM capabilities," said Steven W. Berglund, Trimble's president and chief executive officer.

"The ability to integrate data throughout a project lifecycle, while eliminating costs through better accuracy and interoperability, is key to our customers' success. BIM is becoming a strategic element in accomplishing this. Tekla and Trimble's combined solutions will enable us to provide our customers with the broadest and most sophisticated BIM capability available today," Berglund concluded.

The offer period is expected to commence on May 19, 2011 and expire on June 17, 2011.