Precision agriculture company AgJunction announced March 16 it has entered into an agreement to acquire Novariant through a merger transaction. The company notes several advantages for this move, including establishing a larger presence with more resources, obtaining a broader OEM partner list and reductions in operating redundancy.
“A shift like this occurs only once during the life cycle of a technology, and great companies can be created by accelerating and innovating at the right time,” says Dave Vaughn, CEO of Novariant. “We believe this is a transformational opportunity, and AgJunction is the right partner.”
California-based Novariant has spent the past two decades developing and applying advanced precision steering products and solutions. It currently has more than 750 unique platform-install kits and more than 30,000 systems in current field operation. Kansas-based AgJunction provides hardware and software applications for precision agriculture. Its product lineup includes Outback Guidance, Satloc and AgJunction Cloud Services.
Upon closing of the transaction, the combined company will have approximately 200 employees worldwide and will be headquartered at Novariant’s corporate headquarters in Silicon Valley. The combined company also plans to maintain additional offices in Kansas, Arizona, Pennsylvania, Canada and Australia.
Complete details of the terms of the transaction are set out in an agreement that will be filed by AgJunction and be available for viewing under its profile at www.sedar.com on or before March 26, 2015. To talk about this and other technology-related topics, visit the technology forums on the AgWeb discussion boards.