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AGCO announced an agreement to acquire the Precision Planting equipment business from The Climate Corp., a subsidiary of Monsanto Co. Terms of the agreement were not disclosed.
“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, CEO of The Climate Corp. “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.”
Martin Richenhagen, AGCO’s chairman, president and CEO, says the deal, “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.”
The Climate Corp’s Climate FieldView digital agriculture platform will retain connectivity with Precision Planting’s 20/20 SeedSense monitor.