CNH Industrial has acquired its strategic partner, Augmenta, in a bid to grow its technology.
Looking to accelerate Augmenta’s Sense & Act technology, the transaction worth USD110 million is expected to close soon.
Augmenta will operate within CNH’s Raven brand, a subset of the precision technology portfolio.
Aimed at benefiting CNH’s customers, Augmenta will develop a multispectral camera and software that are used to monitor the machine’s operating environment and control various process.
“Our work with Augmenta has brought increasing benefits to our customers’ operations,” says CNH Industrial agriculture president Derek Neilson.
Augmenta will keep its existing employees and offices in Greece and the USA.
CNH Industrial, the parent of New Holland and Case, held an existing 10.5% minority stake in the business prior to the acquisition.