Monsanto (MON) to Buy Precision Planting for $210M in Cash, $40M in Performance-Based Payment
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Monsanto Company (NYSE: MON) today announced it reached an agreement to purchase planting technology developer Precision Planting, Inc., a proven leader in improving yields through on-farm planting performance.
The Precision Planting team will become part of Monsanto's Integrated Farming Systems unit, which utilizes advanced agronomic practices, seed genetics and innovative on-farm technology to deliver optimal yield to farmers while using fewer resources.
The Precision Planting operations will remain in Tremont and all Precision employees will be offered their continued jobs in Tremont. Monsanto agreed to pay $210 million for the business, plus a performance-based payment of up to $40 million.
The Precision Planting team will become part of Monsanto's Integrated Farming Systems unit, which utilizes advanced agronomic practices, seed genetics and innovative on-farm technology to deliver optimal yield to farmers while using fewer resources.
The Precision Planting operations will remain in Tremont and all Precision employees will be offered their continued jobs in Tremont. Monsanto agreed to pay $210 million for the business, plus a performance-based payment of up to $40 million.
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