CNH Industrial Buys Machine Vision Company Augmenta For $110M

Akanksha Bakshi
·1 min read

  • CNH Industrial NV (NYSE: CNHI) has agreed to acquire Augmenta Holding SAS, a machine vision company, for 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. Closing is expected to occur 1Q23.

  • This purchase accelerates the growth of CNH Industrial's innovative Sense & Act technology.

  • "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," stated Derek Neilson, President Agriculture at CNH Industrial.

  • Augmenta will operate within Raven brand, as a subset of precision technology portfolio. It will maintain its existing employees and offices in Greece and the U.S.

  • CNHI plans to fund the deal with available cash on hand. It held cash and equivalents of over $5 billion as of Dec. 31, 2022.

  • Price Action: CNHI shares are trading lower by 1.56% at $15.19 premarket on Monday.

  • Photo Via Company

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