London, December 13, 2019
AGXTEND, CNH Industrial N.V.’s (NYSE: CNHI / MI: CNHI) accelerator for tech startups, announced today that it has acquired a minority stake in Geoprospectors GmbH, a leading supplier of soil sensing equipment for precision agriculture and subsurface engineering.
With this acquisition, CNH Industrial is further solidifying its commitment to AGXTEND’s product line up and distribution network through a stronger presence in soil sensing technology, as well as enhanced synergies facilitating the launch of disruptive new products.
The solutions provided by Geoprospectors will enable AGXTEND to offer a range of geophysical technologies and services for farmers, to obtain valuable data regarding soil resources. The resulting data can be analyzed using Farm Management Information Systems (FMIS) as well as being utilized to automate in-field processes in real time.
Geoprospectors, headquartered in Traiskirchen, Austria, was founded in 2014 and joined the AGXTEND platform in January 2019, providing its SoilXplorer sensor and the ISOBUS DepthXcontrol kit.
AGXTEND continues its open and innovative approach by bringing the latest precision technology to farmers, enabling them to access new technologies helping improve their productivity, efficiency and sustainability.
CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com
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Media contacts:
Laura Overall
Corporate Communications Manager
CNH Industrial
Tel. +44 (0)2077 660 338
E-mail: mediarelations@cnhind.com
