Caterpillar, Trimble Navigation Announce Joint Software Development Venture

Earth-moving equipment manufacturer Caterpillar Inc. and Trimble Navigation Ltd. announced a joint venture company, VirtualSite Solutions, to develop software for fleet management and connected work sites.

Peoria, Ill.-based Caterpillar and Sunnyvale-based Trimble said the new company will "integrate the deep expertise of both parent companies in the areas of product design and software development to transform the way contractors manage their businesses."

The joint venture, based in Westminster, Colo., will create information rich work sites "allowing customers to more efficiently and safely manage their equipment fleets, reduce operating costs and improve productivity in the area of fuel consumption, maintenance, work site and fleet logistics," the companies said.

The joint venture will initially focus on applications for road construction, paving, heavy construction and quarry/aggregates worksites.

Financial and other terms of the deal were not disclosed.