The transaction, completed today, allows AgJunction to further focus on its mission to expand the market for autosteering.
AgJunction Inc. (TSX: AJX), the Autosteering Company™ ("AgJunction"), announced the sale of its SATLOC® aerial guidance and flow control business to Texas Transland, LLC ("Transland"). The transaction, completed today, allows AgJunction to further focus on its mission to expand the market for autosteering.
The sale includes all SATLOC assets and the SATLOC brand name. Transland will take over the relationships with the SATLOC independent dealer network. The specific terms of the transaction are confidential.
"As the world's leading autosteering company, this transaction will enhance our focus on our mission to expand autosteering to all farmers by simplifying our product portfolio," said Dave Vaughn, president and CEO of AgJunction. "It further strengthens our commitment in making autosteering technology easily accessible to all farmers through our indirect channel partners—OEMs, VARs, and technology licensees—and our direct-to farmer channel via Handsfreefarm.com."
AgJunction Inc., the Autosteering Company™ is a global leader of advanced guidance and autosteering solutions for precision agriculture applications. Its technologies are critical components in over 30 of the world's leading precision Ag manufacturers and solution providers and it holds over 130 fundamental steering and machine control patents. AgJunction markets its solutions under leading brand names including Novariant®, Wheelman™, and Whirl™ and is committed to advance its vision by bringing affordable hands-free farming to every farm, regardless of terrain or size. AgJunction has locations in California, Arizona, and Australia, and is listed on the Toronto Stock Exchange (TSX) under the symbol "AJX." For more information, please go to AgJunction.com.