Augmenta acquired by CNH Industrial
Bringing seamless, next-generation automation and analytics to farmers everywhere
ATHENS, Greece, March 15, 2023 (Newswire.com) - Augmenta Agriculture Technologies announced on Monday, March 13 that it has been acquired by CNH Industrial, a world-class equipment and services company. This acquisition will accelerate Augmenta's growth and offer a unique opportunity to expand its state-of-the-art perception and automation capabilities, broaden its global market reach, and increase its impact on thousands of farms worldwide.
Augmenta was created with a vision of transforming agriculture through automation and autonomy. Having the farmer always at the heart of any product or feature development, Augmenta has enabled farmers worldwide to make the most out of every acre in an environmentally sustainable way.
With this integration, Augmenta will amplify its impact, while CNH Industrial will provide a seamless offering of the deepest technology in its farm input automation vertical.
Strategic partners, united with the same purpose
Since 2018, Augmenta has been providing products and services around crop input management and farm analytics to farmers across many geographies, while also working with CNH Industrial and its subsidiary, Raven, as traditional business partners. This pairing was further enhanced after CNH Industrial became a minority strategic shareholder and joined Augmenta's board of directors in 2021. After two years of close partnerships at every level, both parties agreed that joining forces under CNH Industrial's ownership would significantly accelerate their vision and mission.
"We are extremely excited to become part of CNH Industrial and Raven, and continue building together deep technological solutions that enable a more sustainable future for farmers of all sizes, as well as the environment," noted George Varvarelis, co-founder and CEO of Augmenta. "Our beyond-state-of-the-art ag perception stack combined with CNH Industrial's high-quality ag equipment will give a material advantage to the farmers in their daily farming practices, resulting in increased efficiency, precision, and profitability."
CNH Industrial has acquired 100% of the shares of Augmenta Holding SAS for $110 million. Augmenta will integrate into Raven as part of the company's precision technology portfolio. Augmenta will retain its employees and strategically invest in its location in Athens, Greece as an innovation hub.
Augmenta is the creator of an innovative real-time VRA retrofit system compatible with most machinery brands that fully automates impactful farming agrochemical applications. Its growing global presence includes Europe, CIS, North and South America, and Australia. Its stated mission is to augment the capacity of arable land in a way that is beneficial for both farmers and the environment. As a high-tech precision agriculture company, it offers farmers the solution of easily optimizing their inputs, having complete control over them, operating their farms sustainably, and securing or even increasing their yield.
Source: Augmenta Agriculture Technologies