Monsanto to acquire Precision Planting
Monsanto has agreed to acquire the US planting technology developer, Precision Planting (Tremont, Illinois), for $210 million plus a performance-based bonus of up to $40 million. The business will complement Monsanto’s planned Integrated Farming Systems (IFS) approach, which will use its “vast genetics database” to recommend optimal maize hybrids with variable-rate planting. Farmers’ yield data will be fed back to Monsanto through the system. Monsanto is carrying on on-farm trials of IFS this year, with a launch planned in the US Mid-West in 2014.