“Raven is a true pioneer in the precision agriculture space, and their technology is a perfect strategic fit that will differentiate us from our peers and significantly improve our competitive position,” said CNH Industrial CEO Scott Wine. “This acquisition will add strong innovation capabilities to accelerate our precision and digital strategy.”

The first in-house products featuring fully integrated Raven systems will become available in 2022.

Source: Farm Equipment | Member since 2020 |

Dan Rykhus, Raven President & Chief Executive Officer, said, “We thank our shareholders for their strong support of this transaction. We look forward to working with the CNH Industrial team to close the transaction.”

The transaction is expected to close in the fourth quarter of 2021, subject to approval from the Committee on Foreign Investment in the United States (CFIUS) and acceptance by the Defense Counterintelligence and Security Agency (DCSA) of a signed commitment letter.

The final voting results will be reported in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission, after certification by Raven’s inspector of elections.

J.P. Morgan Securities LLC acted as financial advisor to Raven and Davis Polk & Wardwell LLP as its legal advisor.

The objective of the agreement is to evaluate targeted spraying technology aimed at making the process of applying crop protection products more effective and efficient, hence saving farmers input costs and reducing environmental impact.

AGCO said the targeted spraying PoC will focus on real-time sensing technology to make crop protection decisions: “By detecting weeds in growing crops as well as on fallow ground, day or night, this technology will execute precise targeted product placement down to the individual plant level.”

The concept is being evaluated on a sprayer in Europe with plans to extend to North America in 2022.

“Farmers have long been searching for innovative ways to minimize chemical usage and reduce passes through the field to achieve their crop protection goals,” AGCO’s Seth Crawford said. “Combined with the potential for further regulatory pressure, we believe this collaborative spraying effort advances our farmer-first focus and is further evidence that we will work with the best-in-class partners to serve farmers’ needs.”

Raven Applied Technology is committed to sprayer efficacy and operational efficiencies that further enable precision control of chemicals for targeted spraying applications.

Bosch brings capabilities in hardware, machine learning and artificial intelligence as well as digital services to the partnership. Xarvio Digital Farming Solutions provides an automated, real-time, in-field agronomic decision-making engine for weed management.

“Raven is excited for this collaboration,” said the company’s Dominic Walkes. “The expertise of each organization will undoubtedly provide industry changing solutions for some of agriculture’s greatest challenges.”

Member since 2020 | | Source: RealAgriculture

Steven Brazones, current CFO, will become vice president for Applied Technology. In his tenure at Raven, Brazones has led several strategic undertakings, including the acquisitions of Smart Ag and DOT Technology, strategic partnership building, and enterprise strategic planning, which are key elements of Applied Technology’s growth strategy.

Brian Meyer, current vice president of Applied Technology, will become vice president for Engineered Films. Meyer began leading Applied Technology in 2015 when the agriculture market was in a sharp downturn. Under his leadership, Applied Technology grew revenue over the past five years by $40 million, the company said.

“I’ve never been more confident about our current and future position within our selected markets,” said Raven President & CEO Dan Rykhus. “We have the right technology, the right resources, and the right talent. “We are reorganizing senior executives because our future is strong, and we believe we are at the start of a significant growth trajectory for our organization. By making these changes, we are placing ourselves in the best position to execute and capitalize on the opportunities before us.”

The company will begin a search for a new CFO immediately. All leadership changes will be effective Feb. 1.

Source: CropLife |Member since 2020 |

Steven Brazones, current CFO, will become vice president for Applied Technology. In his tenure at Raven, Brazones has successfully led several strategic undertakings—including the acquisitions of Smart Ag and DOT Technology, strategic partnership building and enterprise strategic planning — which are key elements of Applied Technology’s growth strategy.

Brian Meyer, current vice president of Applied Technology, will become vice president for Engineered Films. Meyer began leading Applied Technology in 2015 when the agriculture market was in a sharp downturn. Under his leadership, Applied Technology grew revenue over the past five years by $40 million, the company’s announcement said.

“I’ve never been more confident about our current and future position within our selected markets,” said Raven President & CEO Dan Rykhus. “We have the right technology, the right resources, and the right talent.”

He went on to say, “We are reorganizing senior executives because our future is strong, and we believe we are at the start of a significant growth trajectory for our organization. By making these changes, we are placing ourselves in the best position to execute and capitalize on the opportunities before us.”

The company will begin a search for a new CFO immediately. All leadership changes will be effective February 1, the start of the company’s fiscal year.

Source: CropLife

Member since 2019 | ravenind.com