CNH Industrial has acquired Augmenta to accelerate the growth of its innovative Sense & Act technology. Augmenta was a previous CNH Industrial Ventures investment and a strategic partner for CNH Industrial.
Closing is expected in the first quarter of 2023, subject to the satisfactory completion of customary closing conditions and receipt of regulatory approvals. Augmenta will operate within CNH’s Raven brand as a subset of its precision technology portfolio. It will maintain its existing employees and offices in Greece and the USA, a communication from CNH Industrial noted.
CNH Industrial will acquire Augmenta Holding SAS at an enterprise value of $110 million, subject to customary adjustments. The company held an existing 10.5% minority stake in the business prior to the current transaction, which will be funded with available cash on hand.
Derek Neilson, President, Agriculture, CNH Industrial, said, “Our work with Augmenta has brought increasing benefits to our customers’ operations. What began as a minority investment in their potential now culminates in us adding this proven tech excellence directly to our sprayer offering. This is an important development for our agriculture business that will further support our dealers by differentiating our equipment through value-added technology.”