CNH Industrial has completed the acquisition of Raven Industries, a US-based company active in precision farming technologies. The acquisition, at a price of $ 58 per share, with an enterprise value of $ 2.1 billion, for 100% of Raven, was announced last June. The operation “is the culmination of a long partnership and represents an important milestone in the digital transformation of Cnh Industrial”, reads a note.
CNH Industrial, a company of the Stellantis group that aims to offer immediate value to licensee partners of its brands and their customers, intends to make available in-house products with fully integrated Raven precision farming systems in 2022. “Raven is a true pioneer in precision agriculture and its technology is the perfect strategic response that will differentiate us from our competitors and significantly improve our competitive position,” said Scott Wine, CEO of Cnh Industrial, noting that the the acquisition “will add strong innovative capabilities to accelerate our precision and digital strategy.”