CNH Industrial — the parent company of Case and New Holland — has entered into an agreement to purchase global satellite positioning company Hemisphere GNSS, whose subsidiaries include Outback Guidance.
Hemisphere is owned by Unistrong, which is based in China.
“This move enhances our automation and autonomy tech stack and broadens our talent pool,” said Marc Kermisch, chief digital and information officer at CNH Industrial. “Having Hemisphere’s technology in-house will enable us to accelerate a broad range of our precision technology programs, providing our customers with immediate productivity-enhancing solutions. It will also increase the long-term competitiveness and flexibility of our agriculture and construction portfolio.”
CNH says Hemisphere will continue to operate as a standalone business in the United States, Canada, and Australia. Hemisphere’s expertise and network will also be integrated into CNH brands’ products and services.
After acquiring Raven in 2021, the acquisition of Hemisphere “gives us full control of our precision and navigation technologies,” says CNH.
“Our team is excited to combine resources and talent with CNH Industrial. This enables us to further enhance our technology and product development in core GNSS, agriculture, construction, marine and machine control markets, and to directly integrate our technology with CNH Industrial’s world class equipment,” noted Farlin Halsey, president and CEO at Hemisphere GNSS.
The deal is worth US$175 million, says CNH, free of cash and debt. It is expected to close in the third quarter of 2023, but is subject to shareholder and regulatory approvals, including laws and regulations in the People’s Republic of China.