Precision Planting Finds Buyer

AGCO recently announced an agreement to buy Monsanto’s Precision Planting business for an undisclosed amount. The deal comes after Monsanto terminated its agreement to sell Precision Planting to Deere amid regulatory pressure.

Mike Stern, CEO for The Climate Corp., a subsidiary of Monsanto, said this: “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. 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 transaction is subject to regulatory approvals.

Sources: Reuters, Farm Industry News