SIOUX FALLS, S.D. (KELO) — CNH Industrial says it has completed its acquisition of Raven Industries, Inc.
In June, CNH Industrial said its $2.1 billion purchase of a South Dakota company will give it an edge in innovating autonomous technology in agriculture vehicles.
The Italian-American agriculture vehicle manufacturer said in Tuesday’s announcement that the acquisition builds upon a long partnership and is an important milestone in CNH Industrial’s digital transformation.
“Raven is a true pioneer in the precision agriculture space, and their technology is a perfect strategic fit that will differentiate us from our peers and significantly improve our competitive position,” Scott Wine, Chief Executive Officer, CNH Industrial said in the press release. “This acquisition will add strong innovation capabilities to accelerate our precision and digital strategy. I would like to commend both the Raven and CNH Industrial teams who are collaborating closely on a seamless transition to make this truly transformative deal progress smoothly.”
The announcement went on to say the first in-house products featuring fully integrated Raven precision agriculture systems will be available in 2022.