Trimble Navigation Offers to Acquire "BIM" Leader Tekla

Trimble Navigation (Nasdaq: TRMB) Limited, Sunnyvale, Calif., has announced a public tender offer, to be made by its subsidiary Trimble Finland Oy, for all issued and outstanding shares in Tekla Corporation ("Tekla") for EUR 15.00 per share in cash representing an aggregate equity purchase price of approximately EUR 337 million (or approximately $489 million), and an enterprise value of EUR 311 million (or approximately $451 million). The consideration represents a premium of 52 percent to the closing price of Tekla shares on NASDAQ OMX Helsinki Ltd on May 6, 2011, the last trading day before this announcement. The Board of Directors of Tekla may, pursuant to the authorization granted by the annual general meeting held on April 6, 2011, resolve to distribute additional dividends or other funds to its shareholders in the maximum amount of EUR 18 million, or up to EUR 0.80 per share, before the completion of the tender offer. If this occurs prior to the completion of the tender offer, it would result in an equal reduction in the above stated per share offer price of up to EUR 0.80 per share. Tekla is a leading provider of Building Information Modeling ("BIM") software, with more than 5,000 customers worldwide in the construction industry. Tekla also offers model driven solutions for customers in the infrastructure and energy industries (in particular energy distribution, public administration and civil engineering and utilities). Headquartered in Espoo, Finland, with a U.S. office in Atlanta, Georgia, Tekla has approximately 500 employees and operations in 15 countries worldwide.