CNH Industrial acquires a minority stake in Augmenta

Rhea-AI Summary

CNH Industrial (NYSE: CNHI) has completed a minority stake acquisition in Augmenta, an agricultural technology firm, enhancing its capabilities in farming automation. The deal positions CNH as a strategic partner in crop sensing and machinery automation, facilitating future R&D collaboration. Augmenta’s advanced system uses AI and real-time data to optimize fertilizer and crop protection applications, promoting sustainability and reducing operating costs. The technology will be accessible globally through CNH's AGXTEND portfolio, further solidifying its commitment to advanced agricultural innovations.

Positive

• Acquisition strengthens CNH's position in agricultural technology.
• Collaboration with Augmenta enhances R&D capabilities.
• Real-time precision farming solution reduces costs and promotes sustainability.
• Technology expands CNH's AGXTEND portfolio and global market reach.

Negative

• None.

London, March 23, 2021

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announced today that it has completed its acquisition of a minority stake in Augmenta, an agricultural technology company, focused on automating farming operations using computer vision and artificial intelligence ‘on the edge’, whereby data is processed in real time, directly by the system. This acquisition will see CNH Industrial become Augmenta’s strategic partner in crop sensing and machinery automation, and also foresees future joint research and development collaboration.

This partnership is further evidence of CNH Industrial’s ongoing commitment to investing in advanced agricultural technologies to strengthen its entire product range, thereby offering its customers rapid and easy access to breakthrough agricultural innovations, which enhance both farming productivity and bring sustainability benefits. Furthermore, it reinforces the product portfolio of AGXTEND, the Company’s accelerator for tech startups.

Augmenta’s real-time precision farming solution uses a roof-mounted system, which contains multispectral 4K cameras that scan the field ahead during normal farming operation, and by using artificial intelligence calculates exactly what the crop needs in terms of fertilizer or crop protection products. This real-time variable rate application prescription is transmitted to the implement instantly, thereby reducing the quantity of such products required, lowering operating costs and enhancing sustainable practices. This advanced system, compatible with a broad range of crops, including small and large grains, cotton, rice and sugarcane, not only analyzes the crop condition – including detecting foliage status and various other visual patterns – but also compensates for environmental factors which may impact analysis, such as light levels. Furthermore, the data from the system is automatically transmitted to a cloud portal, for easy management and analysis, or can be exported in standard format to other farm management information systems.

Augmenta, headquartered in Paris, France, and with offices in the United States, has its research and development campus in Athens, Greece. The company is exclusively focused on developing precision farming solutions based on computer vision and artificial intelligence. To date, the Company’s products are in 16 countries throughout North and South America, Europe and Australia.

Augmenta’s technology will be available globally through the AGXTEND portfolio.

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com

Augmenta: Based in Paris, France with a commercial office in Dallas, USA and a R&D centre in Athens, Greece, Augmenta is the creator of an innovative real-time, camera-based system that retrofits pre-owned farming equipment and automates the most impactful farming operations like nitrogen and chemical applications. With its growing global presence in Europe, CIS, North and South America and Australia, it has already made important inroads into its mission of augmenting the capacity of arable land in an environmentally sustainable way. More information can be found on www.augmenta.ag

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Media contact:

Laura Overall                                                                 
Corporate Communications Manager
CNH Industrial
Tel. +44 (0)2077 660 338                 

Email: mediarelations@cnhind.com
www.cnhindustrial.com

Attachment

• 20210323_PR_CNH_Industrial_Augmenta

FAQ

What is CNH Industrial's recent acquisition?

CNH Industrial has acquired a minority stake in Augmenta, focusing on agricultural technology.

How will Augmenta's technology benefit CNH Industrial?

Augmenta's technology optimizes farming operations, reducing costs and enhancing sustainability.

What impact does the acquisition have on CNH Industrial's product offerings?

The acquisition expands CNH's AGXTEND portfolio, increasing access to innovative precision farming solutions.

When did CNH Industrial complete the acquisition of Augmenta?

The acquisition was announced on March 23, 2021.

Where is Augmenta headquartered?

Augmenta is headquartered in Paris, France.