CNH Industrial said on Thursday that it had agreed to buy Hemisphere GNSS, a high-performance satellite positioning technology company, for $175 million to improve automation in its agriculture and construction businesses. CNH, a farm machinery and construction equipment maker, said in a statement that the preliminary purchase price was free of cash and debt and that it would fund the deal through available cash. At the beginning of last year, the Italian American group separated from its truck and bus making unit, now listed as Iveco Group, to focus on farm machinery and construction equipment.
Hemisphere Hemisphere GNSS product HemisphereGNSS image Bringing core satellite navigation technology in-house to strengthen our precision solutions London, March 30, 2023 CNH Industrial announces that it has entered into an agreement to purchase Hemisphere GNSS (Hemisphere), a global leader in high-performance satellite positioning technology, currently owned by Unistrong, a company incorporated in the People’s Republic of China. This acquisition is a critical step that advances our automated a
CNH Industrial (CNHI) closed the most recent trading day at $15.05, moving +1.48% from the previous trading session.