AGCO and Precision Planting Deal is Done
In an open letter to AGCO employees and dealers, farmers and the ag industry, Eric Hansotia, Senior Vice President at AGCO announced that the company has closed its purchase of Precision Planting from the Climate Corporation.
“Since our intent to acquire announcement in late July, there has been a lot of excitement in the market. Now that the deal has legally been completed, I want to explain what this acquisition means for growers, dealers and the market as a whole,” stated Hansotia in the letter.
To customers he said, “At the heart of Precision Planting is an intense focus on solving customers’ farming challenges with innovative, practical solutions and providing industry-leading in-field support. We fully intend to maintain and even grow those capabilities.”
And the letter stated the company’s intent expand Precision Planting’s products to more global markets and strengthen OEM relationships.
To dealers Hansotia focused on strategy, stating “Our strategy is to continue the Premier dealer network model in the market. We will be adding to that base in order to grow globally and continue to strengthen the existing network.”
And he recognized the implications of this product lineup with data, “We are working on agreements with The Climate Corporation that will create strong linkage to its digital ag tools for customers and determine how best to enhance Fuse products. Our commitment to our customers that they should be in full control of their data is not changing.”