Topcon Positioning Systems has announced the purchase of more than 32 million shares of Sokkia stock – a purchase represents approximately 94 percent of Sokkia’s outstanding stock. Once the purchase is complete, Sokkia, a provider of turnkey positioning solutions, will become a wholly owned subsidiary of Topcon.
Ray O’Conner, president and CEO, Topcon, says while the purchase will offer synergistic opportunities, the distribution system will remain in place. “It will be business as usual for both companies, with no change in brand or distribution network.”
Ed Yamanaka, president, Sokkia, says the companies combine well because of similar corporate cultures. “There is a striking similarity in the way the two companies embrace their distributors as true partners in the business. Both companies have a similar approach in working with service and support issues.”