CNH Industrial — the parent company of Case IH and New Holland — says it has completed its purchase of global satellite navigation company Hemisphere GNSS, as of October 12.
The deal, worth US$175 million, was originally announced in March 2023, and includes Hemisphere’s subsidiary Outback Guidance, which sells agricultural autosteer products in North America and Australia.
“Bringing Hemisphere’s talent and resources into CNH reflects the energy and momentum of our investments in tech innovation. From 2024 onwards, we will bring notable value to customers through significant advancements in our journey from automating certain tasks to fully autonomous operation,” says Marc Kermisch, Chief Digital & Information Officer at CNH, in a statement.
Following up on the $2.1 billion acquisition of Raven Industries in 2021, CNH says the Hemisphere purchase accelerates its plan to attain leadership in automation and will “expedite delivery of a fully autonomous farming cycle.”
Hemisphere was previously owned by Beijing UniStrong Science & Technology Co., based in China.
