CNH Industrial To Acquire Hemisphere GNSS
CNH Industrial announced its plan to acquire Hemisphere GNSS, which is currently owned by Unistrong (a company incorporated in China). Hemisphere GNSS will be part of CNH Industrial’s precision and navigation technologies. The acquisition is reported at $175 million and will close in the third quarter.
CNH Industrial says this acquisition is critical on the heels of integrating its Raven brand and in how it plans to develop automated or autonomous solutions in agriculture and construction.
"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 has developed a proprietary Global Navigation Satellite System (GNSS) series of solutions. The company’s goal is to provide pinpoint accuracy and has businesses in agriculture, construction, mining and marine industries. Hemisphere builds application-specific integrated circuit chips, circuit boards, Radio Frequency signal processing, navigation algorithms and Satellite-Based Correction designs.
The news release announcing the acquisition detailed how Hemisphere will continue to operate as a standalone business via operations in the U.S., Canada and Australia.
"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.
