Massey Ferguson and Fendt parent AGCO has completed its acquisition of the Precision Planting equipment business from Monsanto subsidiary The Climate Corporation.
The deal was first announced in late July, following the termination of an earlier agreement to sell Precision Planting to John Deere. The US Department of Justice had ruled that combining the world’s two largest developers and providers of IT-enabled high speed seed planting equipment would reduce competition in this market, leading to higher prices and less innovation.
AGCO says it will continue to develop innovative Precision Planting products to improve efficiency and productivity for farmers around the world. It is also working with The Climate Corporation on a global data connectivity agreement between AGCO equipment and the Climate FieldView digital agriculture platform. This aims to help farmers centralise their data in one place, manage inputs and measure the outcome of their agronomic decisions throughout the season.
Climate Corp says the strategic divestment will allow it to exclusively focus on its core digital agriculture platform.