CNH Industrial acquires machine vision company Augmenta
Smarter agricultural sprayer capabilities lead to greater gains
for farmers
London, March 13, 2023
CNH Industrial has purchased Augmenta to
accelerate the growth of their innovative Sense & Act
technology. Augmenta was a previous CNH Industrial Ventures
investment and a strategic partner for CNH Industrial.
“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,” said
Derek Neilson, President Agriculture at CNH Industrial. “This is an
important development for our Agriculture business that will
further support our dealers by differentiating our equipment
through value-added technology.”
“Augmenta’s technology will expedite development
of our broader ‘Sense & Act’ capabilities to create value for
our customers,” said Parag Garg, Chief Digital Product Officer.
Sense & Act
tasks are based on sensor-detected data during the spraying
process, wherein protection solutions are applied to crops both
before and after harvest. This technology gives machines
selective spraying capabilities
which precisely directs and regulates spray volume.
Augmenta’s work in this area includes the
development of a multispectral camera and software that monitors a
machine’s operating environment and acts directly via the machine.
This increases yield for our customers, boosts sustainability by
eliminating unnecessary chemical and fertilizer usage, and most
importantly reduces application time, effort and input costs.
Savings in herbicide, fungicide, plant growth regulators and
fertilizer represent the largest value pool for this
technology.
Augmenta will operate within our
Raven brand, as a subset of our precision
technology portfolio. It will maintain its existing employees and
offices in Greece and the USA. CNH Industrial will acquire Augmenta
Holding SAS at an enterprise value of $110 million, subject to
customary adjustments. CNH Industrial held an existing 10.5%
minority stake in the business prior to the transaction announced
today, which will be funded with available cash on hand. Closing is
expected to occur in the first quarter of 2023, subject to the
satisfactory completion of customary closing conditions and receipt
of regulatory approvals.
Forward-looking statements
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uncertainties materialize (or they occur with a degree of severity
that the Company is unable to predict) or other assumptions
underlying any of the forward-looking statements prove to be
incorrect, including any assumptions regarding strategic plans, the
actual results or developments may differ materially from any
future results or developments expressed or implied by the
forward-looking statements. Factors, risks and uncertainties that
could cause actual results to differ materially from those
contemplated by the forward-looking statements include, among
others: economic conditions in each of our markets, including the
significant uncertainty caused by the war in the Ukraine; the
duration and economic, operational and financial impacts of the
global COVID-19 pandemic; production and supply chain disruptions,
including industry capacity constraints, material availability, and
global logistics delays and constraints; the many interrelated
factors that affect consumer confidence and worldwide demand for
capital goods and capital goods-related products; changes in
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legislation, particularly pertaining to capital goods-related
issues such as agriculture, the environment, debt relief and
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development; government policies on international trade and
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and tariffs; volatility in international trade caused by the
imposition of tariffs, sanctions, embargoes, and trade wars;
actions of competitors in the various industries in which we
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aspects of our products; labor relations; interest rates and
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warranty and defective product claims, and emissions and/or fuel
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its suppliers and dealers; security breaches with respect to our
products; our pension plans and other post-employment obligations;
political and civil unrest; volatility and deterioration of capital
and financial markets, including pandemics, terrorist attacks in
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benefits from our business initiatives as part of our strategic
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anticipated benefits of our acquisitions, joint ventures, strategic
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the foregoing.
Forward-looking statements are based upon
assumptions relating to the factors described in this press
release, which are sometimes based upon estimates and data received
from third parties. Such estimates and data are often revised.
Actual results may differ materially from the forward-looking
statements as a result of a number of risks and uncertainties, many
of which are outside CNH Industrial’s control. CNH Industrial
expressly disclaims any intention or obligation to provide, update
or revise any forward-looking statements in this announcement to
reflect any change in expectations or any change in events,
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statements are based. Further information concerning CNH
Industrial, including factors that potentially could materially
affect CNH Industrial’s financial results, is included in CNH
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Exchange Commission (“SEC”), the Autoriteit Financiële Markten
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(“CONSOB”).
All future written and oral forward-looking
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Industrial are expressly qualified in their entirety by the
cautionary statements contained herein or referred to above.
CNH Industrial (NYSE: CNHI /
MI: CNHI) is a world-class equipment and services company. Driven
by its purpose of Breaking New Ground, which centers on Innovation,
Sustainability and Productivity, the Company provides the strategic
direction, R&D capabilities, and investments that enable the
success of its global and regional Brands. Globally, Case
IH and New Holland Agriculture supply
360° agriculture applications from machines to implements and the
digital technologies that enhance them; and CASE
and New Holland Construction Equipment deliver a
full lineup of construction products that make the industry more
productive. The Company’s regionally focused Brands include:
STEYR, for agricultural tractors;
Raven, a leader in digital agriculture, precision
technology and the development of autonomous systems;
Flexi-Coil, specializing in tillage and seeding
systems; Miller, manufacturing application
equipment; Kongskilde, providing tillage, seeding
and hay & forage implements; and Eurocomach,
producing a wide range of mini and midi excavators for the
construction sector, including electric solutions.
Across a history spanning over two centuries,
CNH Industrial has always been a pioneer in its sectors and
continues to passionately innovate and drive customer efficiency
and success. As a truly global company, CNH Industrial’s 37,000+
employees form part of a diverse and inclusive workplace, focused
on empowering customers to grow, and build, a better world.
For more information and the latest financial
and sustainability reports visit: cnhindustrial.com
For news from CNH Industrial and its Brands
visit: media.cnhindustrial.com
Contacts:
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