The Climate Corporation Announces Close of AGCO’s Purchase of Precision Planting LLC

Date:09-06-2017

The Climate Corporation, a subsidiary of Monsanto Company (NYSE: MON), announced recently that closing agreements have been signed to finalize AGCO’s purchase of the Precision Planting LLC equipment business. In late July, the companies first announced the transaction. AGCO will now assume ownership of Precision Planting, continuing the development of innovative products that improve efficiency and productivity for farmers around the world.

As the industry-leader in data connectivity, The Climate Corporation is also in the process of solidifying a global data connectivity agreement with AGCO that will enable connectivity between AGCO equipment and the Climate FieldView™ digital agriculture platform, allowing more farmers to easily get all of their data in one place to manage inputs and measure the outcome of their agronomic decisions throughout the season. More details will be provided on that agreement in the future.

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 terms of the agreement were not disclosed.