AgJunction Inc. has agreed to acquire Novariant Inc. through a merger transaction.
Combined, the two companies will establish a preeminent position in automated steering and machine control technologies worldwide, combining product portfolios and leveraging industry-leading intellectual property.
Specifically, Novariant and AgJunction will be better positioned to achieve market objectives through leveraging:
• A larger presence with more resources
• A broader OEM partner list
• One of the precision agriculture industry’s most comprehensive intellectual property portfolios, providing increased IP protection for OEM partners
• Increased research and development capability and efficiency
• Reductions in operating redundancy to further improve profitability
Novariant is a premier provider of advanced steering solutions for precision agriculture.
Based in Silicon Valley, Novariant’s steering solutions are used in more than 60 countries. With approximately 55 employees worldwide, Novariant generated revenues of approximately $30 million in 2014.
Completion of the transaction is expected in Summer of 2015.