MOLINE, Ill. — Deere & Co. has reached an agreement to let Ag Leader, a precision agriculture competitor, offer products currently sold by Precision Planting.
The agreement is contingent on Deere completing the acquisition of Precision Planting from The Climate Corporation, a subsidiary of Monsanto Co.
The agreement will provide Ag Leader the technologies and licenses necessary to manufacture and sell the Precision Planting SpeedTube and related technology, once the acquisition of Precision Planting is completed.
Deere officials said the agreement enhances competition and innovation in the market and expands customers’ choices for planting equipment, whether they are buying new machinery or retrofitting older planting equipment made by various manufacturers.
Ag Leader remains a completely independent competitor to Deere and Precision Planting. In November 2015, Deere signed a definitive agreement to acquire the Precision Planting equipment business.
In August, the U.S. Department of Justice challenged the transaction, and Deere announced it would contest the DOJ action.
Deere anticipates Ag Leader will sell Precision Planting components to retrofit Deere and other brands of planters.
STAY INFORMED. SIGN UP!
Up-to-date agriculture news in your inbox!