Trimble to Sell its ThingMagic RFID Business to Novanta

Trimble (NASDAQ: TRMB) announced today that it has entered into a definitive agreement to sell its Woburn, Mass. -based ThingMagic RFID business to Novanta Inc. (NASDAQ: NOVT) for $20 million in cash. Novanta is a global leader and supplier of photonics, precision motion and vision technologies to original equipment manufacturers (OEMs) in the medical and advanced industrial markets. The transaction, subject to customary closing conditions, is expected to close in the first quarter of 2017.