Monsanto Purchases Equipment Maker Precision Planting

Monsanto Company announced it reached an agreement to purchase planting technology developer Precision Planting, Inc. The Precision Planting team will become part of Monsanto’s Integrated Farming Systems unit, which utilizes agronomic practices, seed genetics and innovative on-farm technology to deliver optimal yield to farmers while using fewer resources.

“This underscores our commitment to maximizing yield for farmers while optimizing crop inputs, which is central to our vision of sustainable agriculture,” said Robb Fraley, Monsanto’s chief technology officer. Fraley noted that as a company focused on yield, Monsanto is well-positioned to advance the latest planting technology applications and looks forward to continuing its work with seed dealers, Precision Planting dealers and leading equipment companies to achieve this.

“Precision Planting’s goal is to boost yields through equipment innovation,” said Gregg Sauder, founder of Precision Planting. “Monsanto delivers yield through genetics and traits. Together, we can develop the advanced planting technologies that accurately deliver the optimum genetics to each square foot of soil.”

The Precision Planting operations will remain in Tremont, IL and all Precision employees will be offered their continued jobs in Tremont. Monsanto agreed to pay $210 million for the business, plus a performance-based payment of up to $40 million.