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Precision Planting deal terminated

The Climate Corporation terminates agreement with John Deere.

The acquisition of the Precision Planting LLC equipment business has been terminated, The Climate Corporation announced today.

In November 2015, The Climate Corporation, a subsidiary of Monsanto, announced an agreement with Deere & Co. to acquire Precision Planting LLC. Closing had been delayed by Department of Justice concerns with the transaction.

The Climate Corporation made the strategic decision nearly 18 months ago to focus its business exclusively on its digital agriculture platform, and that strategy has not changed. The company intends to sell the Precision Planting equipment business and has spoken with several third parties that have expressed interest in purchasing it.

John Deere also announced today their termination of the Digital Ag Connectivity agreement with The Climate Corporation. The termination of this agreement will have no impact on existing Climate FieldView customers who use John Deere’s Wireless Data Server technology to stream data into their account.

The Climate Corporation remains committed to enabling seamless field data collection from multiple equipment types and software systems into its Climate FieldView digital agriculture platform. 

The company has sold more than 10,000 Climate FieldViewTM Drive devices that stream real-time data from planters, sprayers and combines, with more than 70% of FieldView Drive data streaming from John Deere planters and combines. Climate FieldView also will retain connectivity with Precision Planting’s industry leading 20/20 SeedSense monitor, regardless of the planned sale of the business. In addition to equipment connectivity, Climate has agreements in place that enable data transfer from more than 80% of the top retailers across the Corn Belt into the Climate FieldView platform. 

Source: Monsanto

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