CNH Industrial has announced it has entered into an agreement to purchase Hemisphere GNSS (Hemisphere), a global leader in high-performance satellite positioning technology that’s currently owned by Unistrong, a company incorporated in China.
CNH considers the acquisition a critical step in advancing its automated and autonomous solutions for agriculture and construction. Combined with the capabilities of its Raven brand, the development gives it full control of its precision and navigation technologies.
“This move enhances our automation and autonomy tech stack and broadens our talent pool,” the chief digital and information officer at CNH Industrial, Marc Kermisch, said. “Having Hemisphere’s technology in-house will enable us to accelerate a broad range of our precision technology programmes, providing our customers with immediate productivity-enhancing solutions. It will also increase the long-term competitiveness and flexibility of our agriculture and construction portfolio.”
Hemisphere’s proprietary Global Navigation Satellite System (GNSS) solutions provide pinpoint accuracy for the agriculture, construction, mining and marine sectors. The company designs electronic systems and software solutions. Its core technology capabilities include application-specific integrated circuit chips, circuit boards, radio frequency signal processing, navigation algorithms and satellite-based correction designs.
Hemisphere will continue to operate as a standalone business via operations in the USA, Canada and Australia, but its expertise and network will be integrated into CNH Industrial’s brands’ products and services. The combination of technology and product is expected to provide customers with a superior user experience in the field and on the job site.
“Our team is excited to combine resources and talent with CNH Industrial,” the president and CEO at Hemisphere, Farlin Halsey, said. “This enables us to enhance further our technology and product development in core GNSS, agriculture, construction, marine and machine control markets and to directly integrate our technology with CNH Industrial’s world-class equipment.”
Hemisphere has been valued at $175 million for the deal, expected to complete in the third quarter of 2023.
