(Reuters) - Software company Trimble Inc (TRMB.O) said on Monday it would acquire privately-held Viewpoint from investment firm Bain Capital in an all-cash deal valued at $1.2 billion as it looks to expand its services in the construction sector.
The company also raised its revenue outlook, sending its shares up 4.9 percent to $37.91 in extended trading.
Trimble said it now expects first-quarter revenue to be above the high end of its prior forecast range of $700 million to $730 million.
Analysts on average are expecting a revenue of $723.9 million, according to Thomson Reuters I/B/E/S.
The deal is expected to be completed in the third quarter of 2018 and contribute about $200 million to Trimble’s adjusted revenue in 2019.
The Viewpoint business will be part of Trimble’s buildings and infrastructure segment and will complement the company’s recent acquisition of e-Builder, a software that caters to construction space.
Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur