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
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
Hagie sprayer
GuidanceWhat’s New and What’s Next from Hagie Manufacturing
May 16, 2017
Many were surprised by John Deere’s announcement last spring that it had acquired majority ownership of Hagie Manufacturing Co., a Read More
Trending Articles
Brazil-Soybean-field
AmericasIPNI Brazil: Precision Agriculture to Improve Nutrient Use Efficiency
October 16, 2017
As I mentioned in my last article, the IPNI Brazil Symposium on Precision Agriculture was held in early October in Read More
Decision Support SoftwareFarmers Edge, Service Provider Talk High-Frequency Imagery Deal
October 11, 2017
As the domestic ag tech market continues to mature and develop as we barrel into 2018, another intriguing partnership has Read More
Corn Field Sunset
Industry NewsEFC Systems’ FieldAlytics Now Available in Canada
September 29, 2017
According to an AgPR news release, FieldAlytics is now available in Canada through FieldAlytics Solutions Canada, Inc. This new company Read More
Decision Support SoftwareSciFi in Ag: Chatbot with your Plants?
September 26, 2017
(Article Notes: This monthly column takes some crazy sounding ideas and applies them to the field of Ag Tech. The Read More
deepfield-robotics-bonirob
Robotics/Labor SaversDeepfield Robotics to Showcase Precision Agriculture Technology at Agrilevante
September 22, 2017
Deepfield Robotics is preparing to showcase its robotics and automation technologies for the agriculture market at the Agrilevante event, in Read More
Farmer with iPad
Australia/New ZealandAgrian Expands into Australia
September 20, 2017
In line with a familiar growth trajectory, Agrian Inc. is moving into Australia with a physical support and sales presence Read More
Latest News
Robotic-Field-Scanner
Specialty CropsOpinion: Agriculture’s Big Data is Coming to You
October 20, 2017
If you think your world is changing at a dizzying pace, you ain’t seen nothin’ yet. That’s my takeaway from Read More
Ohio State
Data ManagementRecap: The Ohio State University Explores Ag Tech ROI a…
October 19, 2017
How do soybean producers begin to extract value from the vast selection of digital tools available in agriculture today? At Read More
Industry NewsAGCO, Climate Corp. Announce Digital Partnership
October 19, 2017
AGCO announced today a new digital partnership with The Climate Corp. that will provide AGCO customers the option to connect Read More
Industry NewsFieldReveal Inks Agreement with Texas Agronomy Outfit
October 19, 2017
FieldReveal has entered into an agreement with Ag Producers Cooperative of Dalhart, TX, to offer the full FieldReveal precision ag Read More
corn weather
Data ManagementSeasonal Weather Outlooks: High Risk Worth the Reward?
October 18, 2017
Often, when discussing weather service needs with a potential client, I am asked about the possibility of providing long-range weather Read More
Industry NewsAgDNA Announces Dealership Expansion
October 18, 2017
This week AgDNA surpassed their growth projections, announcing partnerships with eight new multi-store dealerships across the mid-west, mid-south and east Read More
Tomato-crop-India
AsiaIndia Maps 185 Districts Through Remote Sensing for Hor…
October 17, 2017
India’s Union Ministry of Agriculture has mapped 185 districts under a project using remote sensing technology to identify areas best Read More
Brazil-Soybean-field
AmericasIPNI Brazil: Precision Agriculture to Improve Nutrient …
October 16, 2017
As I mentioned in my last article, the IPNI Brazil Symposium on Precision Agriculture was held in early October in Read More
Vector-and-Raster-image
Data ManagementUsing Vector Soil Data in a Raster World?
October 16, 2017
Why spend the time and resources to extract the NRCS ‘Soil SURvey GeOgraphic’ (SSURGO) soil polygons only to display the Read More
Precision Irrigation
Precision Irrigation4 Important Ways Precision Technology Is Impacting Irri…
October 12, 2017
Water management is becoming an increasing concern in agriculture, whether that’s dealing with too much or too little water. This Read More
DronesDroneLife: Global Ag Drone Industry Potentially Worth $…
October 12, 2017
Via DroneLife.com’s Jason Reagan: According to an August study by Esticast Research & Consulting Market Research, the global commercial drone Read More
Decision Support SoftwareFarmers Edge, Service Provider Talk High-Frequency Imag…
October 11, 2017
As the domestic ag tech market continues to mature and develop as we barrel into 2018, another intriguing partnership has Read More
Planet Labs satellite imagery
Industry NewsFarmers Edge, Planet Labs Announce Multi-Year Exclusive…
October 11, 2017
Farmers Edge announced today a strategic partnership to bring Planet’s best-in-class global monitoring platform to the Farmers Edge precision agriculture Read More
John Deere Combine Harvester at Hagen Farms
Decision Support SoftwareAg and Rail Equipment Uptime Critical for Good Harvest
October 9, 2017
Across the American Heartland, growers have started harvesting their crops for what the USDA predicts will be a good yield Read More
Ag Drone
Industry NewsBotlink, SST Announce Integration
October 6, 2017
Botlink has announced a seamless flow of actionable aerial data into the agX Platform. This integration makes it quick and Read More
corn field
Industry NewsEFC Purchases AgSolver Assets, Establishes New Sustaina…
October 6, 2017
EFC Systems announced it has purchased the assets of AgSolver Inc. The move establishes a new Agronomic Planning and Sustainabilty Read More
Ag Retailer and Grower WinField United
Australia/New ZealandNew Technologies vs. Agronomic Knowledge in Precision A…
October 4, 2017
As the days are getting longer and the temperature is starting to rise, Australian broadacre growers are gearing up for Read More
Field Sky Beauty shot
Industry NewsClimate, West Central Distribution Join Forces on Phosp…
October 3, 2017
To help farmers improve productivity and return on their investment, West Central Distribution and The Climate Corporation have teamed up Read More