• 13-DEC-2019

AGXTEND announces the acquisition of a minority stake in Geoprospectors GmbH

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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.

London, December 13, 2019