Trimble announced that its REF TEK seismic monitoring portfolio has been purchased by Xeos Technologies Inc., headquartered in Nova Scotia, Canada. Xeos and its subsidiary design and manufacture telemetry and data collection products used for structural monitoring, oil and gas operations and scientific studies in the polar, volcano and earthquake fields. Financial terms were not disclosed.
REF TEK provides seismic recorders, seismometers, accelerometers and software for seismic and earthquake engineering systems to government, scientific research and structural monitoring organizations. The systems are used for scientific study, earthquake hazard mitigation, seismic warning assessment, earthquake structural response as well as oil and gas operations monitoring.
“As we work on the execution of Trimble’s Connect and Scale 2025 strategy, we are continually evaluating our portfolio of businesses,” said Patricia Boothe, senior vice president, Trimble. “While seismic recording hardware systems remain important for scientific research and hazard mitigation, Trimble is refocusing its monitoring efforts on the company’s core geodetic capabilities, making Xeos an ideal fit for the traditional seismic REF TEK business.”
“The addition of the REF TEK seismic products are complementary to our remote monitoring business and allow us continued penetration into our existing seismic monitoring markets,” said Derek Inglis, president and CEO, Xeos Technologies. “By adding seismic hardware, Xeos will be able to extend its product portfolio to address an even wider range of applications.”
The REF TEK business has been reported as part of Trimble’s Geospatial Segment. The sale will not have a material impact on segment or overall financial results.