This development strengthens CNH’s position as a leading technology provider for agriculture and construction
CNH Industrial has completed its purchase of the global satellite navigation technology leader Hemisphere GNSS (Hemisphere) for a total consideration of USD $175 million – as announced on March 30, 2023.
This acquisition solidifies CNH’s in-house precision, automation and autonomy technology, enabling us to continue Breaking New Ground for the agriculture and construction industries. It furthers our vertical integration efforts to deliver cutting-edge core technologies to our customers’ fleets for top performance, combined with a smooth and seamless user experience.
With Hemisphere’s expertise and network, we are accelerating our strategic plan to attain leadership in automation technology, expedite delivery of a fully autonomous farming cycle, and extend and enhance automation and autonomy across a broad range of agriculture and construction applications.
“Bringing Hemisphere’s talent and resources into CNH reflects the energy and momentum of our investments in tech innovation. From 2024 onwards, we will bring notable value to customers through significant advancements in our journey from automating certain tasks to fully autonomous operation,” said Marc Kermisch, Chief Digital & Information Officer at CNH.
CNH is devoted to customer-inspired innovation. We are making farming and building easier, more productive, and more sustainable by giving our customers smart machinery that helps them make informed decisions.
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Forward-looking statements are based upon assumptions relating to the factors described in this press release, which are sometimes based upon estimates and data received from third parties. Such estimates and data are often revised. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside CNH Industrial’s control. CNH Industrial expressly disclaims any intention or obligation to provide, update or revise any forward-looking statements in this announcement to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Further information concerning CNH Industrial, including factors that potentially could materially affect CNH Industrial’s financial results, is included in CNH Industrial’s reports and filings with the U.S. Securities and Exchange Commission (“SEC”), the Autoriteit Financiële Markten (“AFM”) and Commissione Nazionale per le Società e la Borsa (“CONSOB”).
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