CNH Industrial Acquires Machine Vision Company Augmenta

Rhea-AI Summary

CNH Industrial (NYSE:CNHI) has acquired Augmenta to enhance its Sense & Act technology, transitioning from a minority investment to full ownership. This strategic move aims to bolster their agricultural equipment by integrating Augmenta's advanced technology, which focuses on selective spraying during crop protection. The technology promises to increase yields, improve sustainability, and reduce application costs by optimizing chemical use. Augmenta will continue to function within the Raven brand, retaining its workforce in Greece and the USA.

Positive

• Acquisition of Augmenta enhances CNHI's Sense & Act technology.
• Integrates advanced technology for selective spraying in agriculture.
• Expected to increase customer yields and reduce input costs.
• Retains existing workforce and offices, minimizing disruption.

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / March 16, 2023 / CNH Industrial (NYSE:CNHI) has purchased Augmenta to accelerate the growth of their innovative Sense & Act technology. Augmenta was a previous CNH Industrial Ventures investment and a strategic partner for CNH Industrial.

"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," said Derek Neilson, President Agriculture at CNH Industrial. "This is an important development for our Agriculture business that will further support our dealers by differentiating our equipment through value-added technology."

"Augmenta's technology will expedite development of our broader ‘Sense & Act' capabilities to create value for our customers," said Parag Garg, Chief Digital Product Officer. Sense & Act tasks are based on sensor-detected data during the spraying process, wherein protection solutions are applied to crops both before and after harvest. This technology gives machines selective spraying capabilities which precisely directs and regulates spray volume.

Augmenta's work in this area includes the development of a multispectral camera and software that monitors a machine's operating environment and acts directly via the machine. This increases yield for our customers, boosts sustainability by eliminating unnecessary chemical and fertilizer usage, and most importantly reduces application time, effort and input costs. Savings in herbicide, fungicide, plant growth regulators and fertilizer represent the largest value pool for this technology.

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

Click here to read the full Press Release.

Photo Caption: CNH Industrial acquires machine vision company Augmenta

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Contact Info:
Spokesperson: CNH Industrial
Website: https://www.3blmedia.com/profiles/cnh-industrial
Email: info@3blmedia.com

SOURCE: CNH Industrial

View source version on accesswire.com:
https://www.accesswire.com/744282/CNH-Industrial-Acquires-Machine-Vision-Company-Augmenta

FAQ

What is the significance of CNHI's acquisition of Augmenta?

The acquisition enhances CNHI's agricultural technology, particularly focusing on selective spraying to improve efficiency and sustainability.

How will Augmenta's technology impact CNHI's operations?

Augmenta's technology is expected to increase yields for customers, optimize chemical usage, and lower application costs.

When was the acquisition of Augmenta completed?

The acquisition was announced on March 16, 2023.

What will Augmenta's role be within CNHI?

Augmenta will operate under CNHI's Raven brand as part of its precision technology portfolio.