CNH Industrial has announced it has entered into an agreement to purchase Hemisphere GNSS.
Hemisphere is a provider of satellite positioning technology and currently owned by Unistrong, a company incorporated in China.
The acquisition aims to assist CNH Industrial’s automated and autonomous solutions for construction and agriculture. Combined with its Raven Brand, Hemisphere will give CNH Industrial full control of its precision and navigation technologies.
Unistrong has agreed to a preliminarily purchase price of $175 million for Hemisphere, subject to customary adjustments.
“This move enhances our automation and autonomy tech stack and broadens our talent pool,” said Marc Kermisch, Chief Digital & Information Officer at CNH Industrial.
“Having Hemisphere’s technology in-house will enable us to accelerate a broad range of our precision technology programs, providing our customers with immediate productivity-enhancing solutions. It will also increase the long-term competitiveness and flexibility of our agriculture and construction portfolio.”
Hemisphere’s proprietary Global Navigation Satellite System (GNSS) solutions provide pinpoint accuracy for the agriculture, construction, mining and marine industries. The company also designs Electronic Systems and Software solutions.
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Their core technology capabilities include application-specific integrated circuit chips, circuit boards, Radio Frequency signal processing, navigation algorithms and satellite-based correction designs. It will continue to operate as a standalone business via operations in the United States, Canada and Australia.
Hemisphere’s expertise and network will be integrated into existing products and services.
“Our team is excited to combine resources and talent with CNH Industrial. This enables us to further enhance our technology and product development in core GNSS, agriculture, construction, marine and machine control markets, and to directly integrate our technology with CNH Industrial’s world class equipment,” said Farlin Halsey, President and CEO at Hemisphere GNSS.
The acquisition is expected to close within the third quarter of 2023, subject to the satisfactory completion of all required closing conditions.