CNH Industrial has completed its purchase of the global satellite navigation technology company Hemisphere GNSS for a total consideration of USD $175 million.
The acquisition, first announced in March 2023, is said to strengthen CNH’s capabilities in precision, automation, and autonomy technology. It also furthers the company’s efforts in vertical integration to provide cutting-edge technology to customer fleets.
With Hemisphere’s expertise and network, CNH says that it can accelerate its strategic plan to develop its automation technology, expedite the delivery of a fully autonomous farming cycle, and extend and enhance automation and autonomy across a broad range of construction applications.
“Bringing Hemisphere’s talent and resources into CNH reflects the energy and momentum of our investments in tech innovation,” said Marc Kermisch, Chief Digital & Information Officer at CNH. “From 2024 onwards, we will bring notable value to customers through significant advancements in our journey from automating certain tasks to fully autonomous operation.”