AGCO to Acquire Precision Planting from The Climate Corporation

July 26, 2017 10:43 AM
 
 

This is a breaking news story.

Here's an audio report from this morning's AgriTalk

 

 

Via AGCO news release, AGCO and The Climate Corporation, a subsidiary of Monsanto Company, announced today that a definitive agreement has been signed for AGCO to acquire the Precision Planting LLC equipment business.

“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,” says Mike Stern, chief executive officer for The Climate Corporation. “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 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,” says Martin Richenhagen, AGCO’s chairman, president and chief executive officer.

The Climate Corporation’s Climate FieldView digital agriculture platform will retain connectivity with Precision Planting’s 20/20 SeedSense monitor. The terms of the agreement were not disclosed. The transaction is subject to regulatory approvals.

Previously in May, Monsanto terminated John Deere’s acquisition of Precision Planting

More to come… 

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Comments

 
Spell Check

Eric
Newton, KS
7/26/2017 01:41 PM
 

  Bill, AGCO is based out of Duluth, Georgia. They are very much a U.S. company.

 
 
bill
monticello, IA
7/26/2017 12:44 PM
 

  let me get this straight...we didn't allow a U.S. company to purchase but let another foreign entity get ahold of precision planting. DUMB!!!

 
 
Eric
Newton, KS
7/28/2017 10:15 AM
 

  Jim, What on earth are you smoking? The only Fiat in AGCO's history was when Fiat had ownership of the Hesston Corporation, but that was lost in the HFI days when Case IH (before Fiat ownership) and AGCO held a joint ownership in the company. Today Fiat owns the majority of CNH (Case-New Holland).

 
 

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