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
Farmers Edge Truck
AmericasFarmers Edge, Raven Announce Collaboration Agreement
May 9, 2018
Raven Industries and Farmers Edge announced today a marketing and collaboration agreement. The two companies are working together to develop Read More
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
Trending Articles
JDandPessl
Sensors/IoTJohn Deere, Pessl Instruments Team Up to Create Opportunities
June 18, 2018
John Deere is best known for its line of tractors, combines, sprayers, and implements. However, in an effort to help Read More
Matt-Waits-featured
Decision Support SoftwareSST’s Matt Waits: Innovative Data Solutions Key to Transforming Global Agriculture
May 31, 2018
Proagrica, part of RELX Group, earlier this year acquired U.S.-based precision agriculture solutions company, SST Software, in a move set Read More
InfoAg ConferenceThe InfoAg Conference Offers Early Bird Registration Discount
May 24, 2018
Since 1995, The InfoAg Conference has been the premier event for discussion and advancement of precision agriculture. The event, organized Read More
Ernie-Chappell-Screenshot
EventsEFC Systems Sponsorship Demonstrates Commitment to Continuing Education for Retail Dealerships
May 16, 2018
Enterprise software manufacturer EFC Systems, scholarship sponsor of the inaugural PrecisionAg® Professional Accelerator professional development conference this June in Brookings, Read More
EventsMeister Media Debuts Growing Innovations
May 10, 2018
As a service provider, you and your grower customers probably can agree on this much: While innovation abounds in agriculture, Read More
UCANR_booth_Food_IT_forum
EventsForum Calling All Innovators of Agriculture Technology
May 2, 2018
The challenges that come with feeding the world continue to grow. Luckily, so do advances in information technology that are Read More
Latest News
Industry NewsRaven Launching CR12 Field Computer in Europe this Week
June 19, 2018
Raven Industries announced the release of a new, larger field computer: the CR12. Utilizing the same functionality as the CR7 Read More
dropcopter
DronesNew York Apple Orchard Claims World First in Pollinatio…
June 18, 2018
Beak & Skiff Apple Orchard in LaFayette, NY, is the first orchard in the world to use drones to pollinate Read More
Farmer with iPad
Decision Support SoftwareAgrian Enhances Field Scouting App
June 18, 2018
Agrian has added a new feature to its robust field scouting app – a pest trap counting solution. The new Read More
AmericasMFA Precision Head Talks Precision Ag, Cover Crops at 2…
June 18, 2018
Although implicit to anyone that spends a good chunk of their career in agriculture, the link between advanced precision technology Read More
Iron Man
UncategorizedAgFunder News: Forget Self-Driving Tractors; Agricultur…
June 18, 2018
Marvel’s Iron Man suit might seem an unlikely source of inspiration for growers, writes Joseph Byrum on AgFunderNews.com. Once the Read More
Soil-Corn-plants-field
Data ManagementRemote Soil-Sensed Management Zones Help Increase Crop …
June 18, 2018
Accurate prescription maps are essential for effective variable rate technology (VRT) fertilizer application. Grid soil sampling is frequently used to Read More
JDandPessl
Sensors/IoTJohn Deere, Pessl Instruments Team Up to Create Opportu…
June 18, 2018
John Deere is best known for its line of tractors, combines, sprayers, and implements. However, in an effort to help Read More
computer-in-field
Business Management3 Questions to Ask When Looking for Your First Job in P…
June 18, 2018
Let me begin this column by extending my congratulations to all of my fellow students who have just graduated – Read More
Robotics/Labor SaversStine Seed Plunks Down $5 Million on Smart Ag’s D…
June 14, 2018
Stine Seed Farm has invested $5 million in Smart Ag Inc., an Iowa technology firm that has developed a full Read More
David-Perry-featured-image
AmericasIndigo Touts ‘New Approach to Agricultural R&…
June 13, 2018
Indigo, the Boston-based microbial crop technology startup that has raised more than $400 million, announced it is expanding its research Read More
Ag Drone
EventsAgTech Conference of the South Dedicated to Innovation,…
June 12, 2018
Join current and emerging agtech business leaders and investors at the AgTech Conference of the South, a premiere conference dedicated Read More
Munckhof Machinefabriek equipment
EuropeEurope: Precision Farming at Heart of Munckhof Deal
June 11, 2018
One of Europe’s oldest suppliers of machinery used in fruit production, the Dutch firm Munckhof Machinefabriek, has been purchased by Read More
Australian-Farmers
Australia/New ZealandCrunching the Ag-Tech Numbers Saves Time for Australian…
June 5, 2018
Time management is key on the Walker family’s farm, where a mix between cropping, commercial sheep and two studs means Read More
Drone-exhbitor-at-Drone-Show
AmericasDroneShow Highlights UAV Technology in Latin America
June 4, 2018
Editor’s note: The DroneShow Latin America is an annual trade fair hosted by MundoGEO, a media and communications company founded Read More
Imagery/SensingImagery in Agriculture: Time for a Reality Check
June 4, 2018
Where do I begin….I’ve been dealing with imagery in agriculture since I was 10 when my dad started Satshot. At Read More
AmericasNAAA Issues Drone Pilot Reminder: Watch Out For Aerial …
May 31, 2018
With more than 1 million UAVs registered with the FAA, it is vitally important for UAV operators to be aware Read More
Matt-Waits-featured
Decision Support SoftwareSST’s Matt Waits: Innovative Data Solutions Key t…
May 31, 2018
Proagrica, part of RELX Group, earlier this year acquired U.S.-based precision agriculture solutions company, SST Software, in a move set Read More
CROO Robotics’ automated strawberry harvester
Specialty CropsGrowingProduce.com: Fruit Growers, It’s Time to Mechani…
May 30, 2018
If you’re into conspiracies, you might be interested to know that I have stumbled onto a doozy. And it looks Read More