Free Trial

CNH Industrial acquires driverless ag vehicle company

SIOUX FALLS, S.D. (AP) — CNH Industrial expects its $2.1 billion purchase of a South Dakota company will give it an edge in innovating autonomous technology in agriculture vehicles, the global manufacturer said Monday.

The Italian-American agriculture vehicle manufacturer said it has acquired 100% of the capital stock of Raven Industries Inc. headquartered in Sioux Falls, South Dakota, for $58 per share.

The transaction will be funded with available cash on hand, CNH Industrial said, with a sale to be finalized by the end of 2021.

The sale will position CNH Industrial to have a greater impact on the global agriculture equipment market by “adding strong innovation capabilities in autonomous and precision agriculture technology,” the company said in a statement.

“Precision agriculture and autonomy are critical components of our strategy to help our agricultural customers reach the next level of productivity and to unlock the true potential of their operations,” stated Scott Wine, CEO of CNH Industrial. “Raven has been a pioneer in precision agriculture for decades, and their deep product experience, customer driven software expertise and engineering acumen offer a significant boost to our capabilities.”

In April, Raven Industries acquired the intellectual property of a Massachusetts-based robotics company, Jaybridge Robotics, an early developer of automated agriculture technology,

Raven said it planned to use Jaybridge’s patents and information to continue developing its “driverless ag technology.”

Should You Invest $1,000 in Raven Industries Right Now?

Before you consider Raven Industries, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Raven Industries wasn't on the list.

While Raven Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

A Beginner's Guide to Investing in Cannabis Cover

Unlock your free copy of MarketBeat's comprehensive guide to pot stock investing and discover which cannabis companies are poised for growth. Plus, you'll get exclusive access to our daily newsletter with expert stock recommendations from Wall Street's top analysts.

Get This Free Report
Like this article? Share it with a colleague.

Companies Mentioned in This Article

CompanyMarketRankâ„¢Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Raven Industries (RAVN)N/A$58.08flatN/A82.97N/AN/A
Compare These Stocks  Add These Stocks to My Watchlist 

Featured Articles and Offers

Recent Videos

3 Made in America Stocks Under $20 You Need to See!
3 Cheap Growth Stocks Set to Explode This Summer
The Next NVIDIA? Quantum Computing Stocks Set for Explosive Growth

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines