CNH Fargo Plant (Courtesy: CNH Industrial)
SIOUX FALLS, S.D. – CNH Industrial says it expects its $2.1 billion purchase of a South Dakota company will give it an edge in innovating autonomous technology in agriculture vehicles.
The Italian-American manufacturer said Monday it has acquired 100% of the capital stock of Raven Industries, Inc. headquartered in Sioux Falls, South Dakota, for $58 per share.
The company said in a statement that the sale will position it to have a greater impact on the global agriculture equipment market by “adding strong innovation capabilities in autonomous and precision agriculture technology.”
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