Lindsay Announces Acquisition of FieldWise

Rhea-AI Summary

Lindsay Corporation has acquired FieldWise, a market leader in agricultural technology products, to expand its suite of technology solutions and increase the number of connected devices. FieldWise specializes in subscription-based, precision irrigation solutions that enable remote monitoring and intelligent control of critical assets. The acquisition strengthens Lindsay's position in smart irrigation and other AgTech markets, allowing them to serve a broader customer base through an expanded distribution network.

Acquisition expands Lindsay’s suite of technology solutions and increases the number of connected devices

OMAHA, Neb.--(BUSINESS WIRE)-- Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, has acquired FieldWise, LLC, a market leader in agricultural technology products with a focus on subscription-based, precision irrigation solutions.

Founded in 2008 and headquartered in Norfolk, Nebraska, FieldWise^® specializes in providing agricultural producers and their trusted service providers with innovative solutions. These solutions enable the remote monitoring and intelligent control of critical assets around their farm or ranch. With an emphasis on mechanized irrigation applications, FieldWise is focused on helping growers improve the productivity, efficiency and profitability of their operations.

The addition of FieldWise will expand and strengthen Lindsay’s position in smart irrigation and other AgTech markets. Through this acquisition, Lindsay will now be the force propelling two market-leading solutions and serving an even broader customer base through a greatly expanded distribution network. FieldWise will continue to operate independently and remain the trusted choice for non-Zimmatic irrigation solution providers around the world, while Lindsay’s FieldNET^® brand will continue to be the remote irrigation management solution sold through Lindsay’s global network of Zimmatic^® dealers.

“FieldWise is an ideal fit for Lindsay. Their capabilities and values align perfectly with our mission to strategically grow and deliver powerful, irrigation technology solutions that conserve natural resources, enhance quality of life and expand our world's potential. The addition of FieldWise advances Lindsay’s technology leadership position in the market and will allow Lindsay to serve an even broader set of customers and service providers globally, which also opens new markets and channels for growth,” said Randy Wood, President and CEO of Lindsay Corporation. “The FieldWise team has shown an impressive ability to rapidly innovate in response to the evolving needs of their customers, and they have gained the trust of thousands of growers and irrigation service providers around the world. Today, we are proud to welcome their incredible team into the Lindsay family and look forward to supporting them as they continue to serve and grow their global customer base.”

“FieldWise is excited to become part of Lindsay Corporation and contribute to the Company’s strategic mission,” said Brian Klawinski, President and CEO of FieldWise. “We are confident our uncompromising focus on putting customers’ needs first will continue as we grow with Lindsay, leveraging their additional resources and best-in-class capabilities. FieldWise will continue to operate independently and retain our employees, our valued brand name, product offerings, and operations at our Norfolk, Nebraska location.” Klawinski concluded, “We remain focused on delivering an exceptional customer experience, while serving the needs, and continuing to earn the trust, of our distribution partners and growers around the world.”

For more information about FieldWise technology, contact a local dealer or visit www.Field-Wise.com. For more information about FieldNET technology, contact a local Zimmatic dealer or visit www.MyFieldNET.com.

About Lindsay Corporation

Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world’s rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic^® center pivot and lateral move agricultural irrigation systems, FieldNET^® remote irrigation management and scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Barrier Systems^®, Road Zipper^® and Snoline™ brands. For more information about Lindsay Corporation, visit www.Lindsay.com.

FieldNET, FieldNET Advisor, FieldWise, Zimmatic, Barrier Systems, Road Zipper and Snoline are trademarks or registered trademarks of Lindsay Corporation and/or its affiliates.

Concerning Forward-Looking Statements

This release contains forward-looking statements that are subject to risks and uncertainties, and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, company performance, and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that Lindsay Corporation files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and those statements preceded by, followed by or including the words "anticipate," "estimate," "believe," "intend," "expect," "outlook," "could," "may," "should," "will," or similar expressions. For these statements, Lindsay Corporation claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Lindsay Corporation undertakes no obligation to update any forward-looking information contained in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230731347074/en/

Alicia Pfeifer, Senior Director, Investor Relations & Treasury,

Lindsay Corporation | +1 (402) 933-6429 or Alicia.Pfeifer@Lindsay.com

Source: Lindsay Corporation

FAQ

What company has Lindsay Corporation acquired?

Lindsay Corporation has acquired FieldWise, LLC.

What are FieldWise's specialty products?

FieldWise specializes in subscription-based, precision irrigation solutions.

What does the acquisition mean for Lindsay Corporation?

The acquisition expands Lindsay's suite of technology solutions, strengthens their position in smart irrigation and other AgTech markets, and allows them to serve a broader customer base through an expanded distribution network.

Will FieldWise continue to operate independently?

Yes, FieldWise will continue to operate independently and retain its employees, brand name, product offerings, and operations at its Norfolk, Nebraska location.

What is Lindsay Corporation's remote irrigation management solution called?

Lindsay Corporation's remote irrigation management solution is called FieldNET®.