Two leading manufacturers of precision surveying instruments–Topcon Corp. and Sokkia Co. Ltd., both with corporate headquarters in Japan–combined effective Feb. 5.
With the recent approval of the Japanese Fair Trade Commission, Topcon purchased more than 32 million shares of Sokkia stock for about $194 million; the shares Topcon purchased represent about 94% of outstanding stock.
Combining the two companies creates the world’s leading supplier of surveying instruments. Both companies provide turnkey positioning solutions for surveyors worldwide. Subsequent to this combination, Sokkia will become a wholly owned subsidiary of Topcon Corp. after all steps are completed.
Topcon and Sokkia have offices throughout the world, including the U.S., Canada, Central America, South America, Europe, Africa, the Middle East, China, Korea and Malaysia.
“What could be better?" said Ray O'Connor, president and CEO of Topcon Positioning Systems of Livermore, Calif. "Two companies, similar operating philosophies, business operations, and corporate culture...working together to be the best positioning company in the surveying industry.”
