Hemisphere GNSS Inc. has signed a definitive agreement to purchase the assets of the Outback Guidance business from AgJunction Inc. along with a new technology licensing agreement. The transaction is expected to close in the third quarter, contingent on normal regulatory approvals. Terms were not disclosed.
Hemisphere will assume ownership of the Outback Guidance assets, including channel, infrastructure and trademarks. Additionally, licenses to intellectual property and related technology have been executed.
Hemisphere said the acquisition aligns well with its continued push into the global agriculture market. In addition to the IP licenses for business into the dealer channel, a second license was signed to allow agriculture steering solutions sales into OEM (original equipment manufacturer), VAR (value-added reseller), and all other segments of the agriculture supply chain.
Also included are two product development, sales, and support facilities in Hiawatha, Kan., and Winnipeg, M, Canada.
“The decision to acquire the Outback Guidance business will significantly accelerate Hemisphere’s expansion into the global agriculture market and allow stronger integration between Hemisphere’s core competency GNSS and Outback’s highly refined steering solutions,” said Farlin Halsey, president and CEO of Hemisphere GNSS, based in Scottsdale, Ariz. “We are very pleased to be bringing on board additional seasoned personnel with strong agriculture domain experience, a strong product line with deeply embedded agricultural technology and a well-accepted, reputable brand in Outback. We will also be bringing back together many years of history and legacy between the two organizations.”
Hemisphere said it has been successful in recent years with its OEM focused agriculture products.