AGCO closes purchase of Precision Planting

AGCO has formally completed its purchase of Precision Planting from The Climate Corporation, a subsidiary of Monsanto.

The deal was originally announced in July, after Climate Corp cancelled a deal to sell Precision Planting to John Deere.

“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,” said AGCO senior vice president Eric Hansotia on Tuesday. “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.”

AGCO has agreed to 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.

Terms of the deal were not made public.

Monsanto cancelled its deal to sell Precision Planting to Deere this past spring after the deal, originally announced in November 2015, was delayed by a U.S. Department of Justice legal challenge.

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