AgJunction, Novariant Merger Finalized

AgJunction today announced that it has completed the merger with Novariant, Inc.  , previously announced on March 16, 2015. With the completion of the merger, AgJunction gains a preeminent position in automated steering and machine control technologies, differentiated by its broad intellectual property portfolio, which includes more than 140 patents, and its ability to deliver application-specific solutions to precision agriculture customers worldwide. As global machine manufacturers increasingly target the integration of autosteer technologies at the factory level, the merged entity can provide increased support and a wider offering of advanced machine automation to current and future OEM and VAR customers. AgJunction’s vision is to be the world’s leading OEM and VAR supplier for automated steering and machine control technology for Precision Agriculture.

Specifically, the merger positions AgJunction to achieve its objectives through leveraging:

  • A wider complementary product portfolio.
  • One of the precision agriculture industry’s most comprehensive intellectual property portfolios providing increased IP protection for VARs and OEM partners.
  • A larger global presence with more resources.
  • A broader OEM and VAR partner list.
  • Increased R&D capability.
  • Headquarters and Management

The combined company has 182 employees worldwide (AgJunction 130, Novariant 52) with Executive Offices in Fremont, CA, and headquarters and corporate offices remaining in Hiawatha, KS. A global presence is maintained with research & development facilities in Scottsdale, Arizona, Brisbane, Australia, Fremont, California and Hiawatha, Kansas with worldwide sales and support presence in Canada, USA, Europe, South America and China.

Dave Vaughn, CEO of Novariant, will be appointed CEO of the combined company and former AgJunction CEO, Rick Heiniger, will be named Senior Project Advisor to the CEO. Jonathan Ladd will be appointed Chairman of the Board and Senior Strategic Advisor to the CEO and Michael Lang, the current Chairman of the Board, will be appointed Vice-Chairman. Mike Manning will continue to serve as Interim Senior Vice President and CFO.

“The merger between AgJunction and Novariant is a transformative step in our shared long-term vision to deliver best-of-breed guidance, autosteering and machine control hardware and software solutions for manufacturers and value added resellers throughout the worldwide Agriculture markets,” said Dave Vaughn, incoming CEO of AgJunction. “By combining two premier providers of advanced steering solutions for precision agriculture, we can better capitalize on the growing opportunities created by the accelerating demand for configurable precision control products and services. Combined, we are ideally positioned to serve our customers more effectively and committed to building on our market-leading solutions portfolio, creating the most compelling and comprehensive offering for both current and new customers seeking global steering control solutions and services.”

For the first six months of 2015 the combined revenue for the two companies was $32 million with operating income of $1 million. At June 30, 2015 the combined entity had zero debt, $17 million cash and cash equivalents, and working capital of $33 million. Following the completion of the Merger AgJunction has 121,796,395 shares outstanding and 123,657,497 shares fully diluted. Directors, officers, and other insiders hold approximately 31% of the outstanding AgJunction shares.

Topics: ,

Leave a Reply

Guidance Stories
Trimble-GFX-750-Display
GuidanceTrimble Introduces GFX-750 Display System with Advanced Guidance Controller
October 30, 2017
Trimble has introduced the Trimble GFX-750 display system for agriculture applications. The display system comes with the simple-to-install, roof-mounted NAV-900 Read More
Beacon
GuidanceDigiFarm VBN Announces Supplier Agreement with AGCO
September 7, 2017
DigiFarm VBN LLC, an agricultural technology company, announces it has signed a supplier agreement with AGCO Corp., a world-leading manufacturer Read More
Young Corn Field
GuidanceOutback Guidance Launches Hands-Free Farming Campaign at Farm Progress Show
August 30, 2017
Outback Guidance, a leader in automated steering and advanced precision farming solutions, and a part of AgJunction, Inc., is launching Read More
GuidanceRaven Announces 2 New In-Cab Technologies
August 23, 2017
Raven Industries announces the release of two new precision agriculture products: RS1 and CR7. The RS1 combines autosteer, GPS, and Read More
Trending Articles
John-Deere-Cab-GPS
Data ManagementPrecision Ag Hardware and Software: A Little Off-Season Maintenance Goes A Long Way
January 11, 2018
All service technicians have heard this line. Most often when spring makes its anticipated return to our lives. It is Read More
Anez-Consulting-Paul-Anez-and-Michael-Dunn
Service ProvidersAnez Consulting: Focus On Fertility
January 9, 2018
Central Minnesota features variability aplenty when it comes to soil characteristics and topography, from flat, black expanses rich in organic Read More
Agrishow2017
Americas5 Best Ag Tech Shows in Brazil
January 8, 2018
Brazil continues to demonstrate its potential in agriculture. Several international companies are investing in our country because we have a Read More
Farmer and computer
Service ProvidersPrecision Agriculture Writers Wanted To Join Our Team in 2018
December 10, 2017
About The Opportunity: PrecisionAg.com is looking for people to join our team in 2018 and submit original content to our Read More
Harvested-Corn-Field-Clouds
Data ManagementWeather Services Advance Precision Agriculture
December 4, 2017
Some estimates suggest over half of growers’ activities are impacted by weather conditions, from field workability to fertility management to harvest Read More
Wheat-an-oats-Daniel-X-ONeil
Data ManagementWill Open-Source Finally Unlock Ag Technology’s Potential?
November 28, 2017
To Aaron Ault’s eyes, ag technology right now is something like a walled garden — not unlike the Microsoft of Read More
Latest News
Data ManagementBlockchain: Making Data Cleaner, More Secure
January 16, 2018
Probably most professionals who deal with business data have at least heard the term “blockchain” bantered about as potentially the Read More
Soybean-field-clouds-Photo-courtesy-of-Earl-R-Shumaker
Data ManagementBetting on Rain? The Accuracy and Reliability of Precip…
January 16, 2018
For you sports junkies out there, if I could prove to you that I can correctly predict winners and losers Read More
center-pivot-irrigation-drop-sprinklers-on-corn
Precision IrrigationFinding Your Precision Ag Mindset
January 15, 2018
A precision mindset is the most important requirement for successful precision ag technology adoption. One of my first VRI (variable Read More
Drone-and-operator-Photo-courtesy-of-Kray-Technologies
DronesCrop Protection Application by Drone: A Q&A with Kr…
January 15, 2018
January is a busy month for agricultural companies. It’s a month that strong sales can set the mood for the Read More
Data ManagementAgGateway Grain Traceability Proof-of-Concept Seeks Ind…
January 15, 2018
AgGateway’s Precision Agriculture and Grain & Feed councils have issued a call for participation for a proof-of-concept initiative in AgGateway’s Read More
John-Deere-Cab-GPS
Data ManagementPrecision Ag Hardware and Software: A Little Off-Season…
January 11, 2018
All service technicians have heard this line. Most often when spring makes its anticipated return to our lives. It is Read More
Corn-Planter
Grower Services & SolutionsCorn Planter: The Train of Consequences
January 11, 2018
It’s always planter season in our shop but now that harvest is done the corn planter is the next piece Read More
Robotics/Labor SaversSmart Ag Announces Driverless Tractor Automation Platfo…
January 11, 2018
An Iowa technology company has unlocked the tremendous potential for automation in agriculture by developing the first cloud-based platform for Read More
Anez-Consulting-Paul-Anez-and-Michael-Dunn
Service ProvidersAnez Consulting: Focus On Fertility
January 9, 2018
Central Minnesota features variability aplenty when it comes to soil characteristics and topography, from flat, black expanses rich in organic Read More
Agrible
Grower Services & SolutionsAgrible to Launch Retailer Services in 2018
January 9, 2018
It’s a new year, which means new market challenges. Full service retailers are searching for ways to differentiate themselves and Read More
jeremy-speaking
Grower Services & SolutionsGrower and Precision Ag Services: Opportunities Lost
January 9, 2018
I often spend time with growers, talking about their operations, and the processes they go through each season to do Read More
Winters-Farming-farm-manager-Alex-Bergwerff-and-Ranch-Systems-marketing-and-business-development-manager-Hylon-Kaufmann
Precision IrrigationInside California Irrigation: Winters Farming
January 9, 2018
As many of us already know, almonds tend to get a bad rap for their water-use efficiency — or some Read More
Sentera software
DronesSentera Offering Elevation Data Mapping Via AgVault
January 9, 2018
Sentera announces the availability of elevation maps within the Sentera AgVault platform, offering agronomists, crop consultants, and growers additional field Read More
Industry NewsRaven, South Dakota State University Link Up: What You …
January 9, 2018
On Tuesday afternoon Raven and South Dakota State University (SDSU) held a press conference on the SDSU campus in Sioux Read More
Agrishow2017
Americas5 Best Ag Tech Shows in Brazil
January 8, 2018
Brazil continues to demonstrate its potential in agriculture. Several international companies are investing in our country because we have a Read More
Aarav-Unmanned-Systems-team
Asia12 Indian Agritech Startups to Watch Out For in 2018
January 3, 2018
Farming is a profession of hope. And India holds the record for the second-largest agricultural land in the world, with Read More
Amazone-Amaspot
Australia/New ZealandAmazone Set to Release Weed-Detecting Sprayer in Austra…
January 2, 2018
European farm machinery giant Amazone is set to release its UX trailed weed-detecting sprayer in Australia, which it says can Read More
drone-wheat-field
DronesAgricultural Drones: From Detection to Diagnosis
January 2, 2018
There is not a remote sensing platform that is innately better at all things: satellites, manned aircraft, and unmanned aerial Read More