With the acquisition CNH aims to enhance its precision agriculture capabilities.
CNH Industrial announced that it has entered into an agreement to acquire 100% of the capital stock of Raven Industries. The acquisition builds upon a long partnership between the two companies. It is to further enhance CNH Industrial’s position in the global agriculture equipment market by adding innovation capabilities in autonomous and precision agriculture technology.
“Precision agriculture and autonomy are critical components of our strategy to help our agricultural customers reach the next level of productivity and to unlock the true potential of their operations,” said Scott Wine, Chief Executive Officer, CNH Industrial. “Raven has been a pioneer in precision agriculture for decades, and their deep product experience, customer driven software expertise and engineering acumen offer a significant boost to our capabilities.”
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CNH states the combination of Raven’s technologies and CNH Industrial’s current and new product portfolio will provide its customers with novel, connected technologies, allowing them to be more productive and efficient.
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