Kubota Corporation will acquire AgJunction, a maker of guidance, autosteering, and autonomy solutions for precision agriculture.
AgJunction’s board initiated a confidential process to consider expressions of interest from third parties in response to a multitude of factors, the company said. The board determined “that the transaction with Kubota represents the best alternative available for AgJunction to create substantial value for our respective stakeholders including the shareholders given the current industry, economic and capital markets conditions as well as existing strategic relationship between AgJunction and Kubota.”
In 2019, AgJunction Inc. filed a patent infringement lawsuit against Kubota Corp. and several of its subsidiaries. The suit alleged that Kubota products violated three AgJunction patents related to automated machine control and implement steering.
Source: Future Farming