“Precision Planting is a strong business that plays an essential role in the growth and adoption of innovative precision ag practices that help farmers enhance their productivity,” said Mike Stern, chief executive officer (CEO) for The Climate Corp. “As a leading global equipment manufacturer, AGCO is uniquely positioned to enable broader distribution of Precision Planting technology and will continue the development of innovative products that improve the efficiency and productivity for farmers around the world.”
The Climate Corp.’s Climate FieldView digital agriculture platform will retain connectivity with Precision Planting’s 20/20 SeedSense monitor.
“The acquisition of Precision Planting will solidify AGCO as one of the global leaders in planting technology and strengthen our position as a full line partner for professional farmers across the globe,” said Martin Richenhagen, chairman, president and CEO and AGCO.
This is the latest in a series of acquisitions. In February, AGCO reached an agreement for the outstanding shares of Kepler Weber S.A., a Brazilian manufacturer of grain storage and handling equipment; in 2016, AGCO purchased Cimbria Holdings Ltd., a manufacturer of products and solutions for the processing, handling and storage of seed and grain, in 2016; Farmers Automatic, Lauer, Germany, a poultry equipment manufacturer in 2015; Intersystems, Omaha, Nebraska, U.S., a material handling company, in 2014; and GSI, Assumption, Illinois, U.S., a manufacturer of grain storage and protein production systems, in 2011.
The terms of the agreement were not disclosed. The transaction is subject to regulatory approvals.