AGCO, The Climate Corp. Close Precision Planting Deal
Today (Sept. 5), AGCO and The Climate Corporation, a subsidiary of Monsanto, announced the closing agreements have been signed to finalize AGCO’s purchase of Precision Planting LLC. Terms of the agreement were not disclosed.
“Now that the deal is closed, I want to explain what this acquisition means for growers, dealers and the market as a whole,” says Eric Hansotia, AGCO senior vice president. “At the heart of Precision Planting is an intense focus on solving customers’ farming challenges with innovative, practical solutions and providing industry-leading in-field support.
“We fully intend to maintain and even grow those capabilities. We will expand the benefits of Precision Planting’s innovation by reaching more growers with a broader global distribution network. AGCO intends to continue growing the OEM customer base and strengthen the large existing account relationships. AGCO will also be expanding the scope of solutions to enhance our equipment across the crop cycle including our Fuse precision farming products and services.”
For dealers, Hansotia says the strategy is to continue the Premier dealer network model in the market, with the goal of adding to the base to grow globally and to strengthen the existing network. AGCO will continue to support all existing Precision Planting dealers, activities and agreements. The Climate Corporation’s Climate FieldView platform will retain connectivity with Precision Planting’s 20/20 SeedSense monitor.
The Climate Corp. and AGCO continue work on agreements that will create strong links between digital ag tools for customers and to determine how best to enhance Fuse products. Hansotia says: “Our commitment to our customers that they should be in full control of their data is not changing.”