Through the acquisition of Hemisphere GNSS, the Italian-American company expects to bolster its automated and autonomous solutions for agriculture and construction
Equipment and services company CNH Industrial has agreed to acquire US-based high-performance satellite positioning technology company Hemisphere GNSS from Unistrong in a deal worth $175m.
Incorporated in China, Unistrong is a high-precision global navigation satellite system (GNSS), positioning, and timing products, services, and technology designing and manufacturing company.
Through the acquisition of Hemisphere GNSS, CNH Industrial expects to bolster its automated and autonomous solutions for agriculture and construction.
CNH Industrial said that the acquisition will provide total control over its accuracy and navigation technologies when combined with the capabilities of its Raven brand.
CNH Industrial chief digital and information officer Marc Kermisch said: “This move enhances our automation and autonomy tech stack and broadens our talent pool.
“Having Hemisphere’s technology in-house will enable us to accelerate a broad range of our precision technology programs, providing our customers with immediate productivity-enhancing solutions.
“It will also increase the long-term competitiveness and flexibility of our agriculture and construction portfolio.”
Headquartered in Arizona, Hemisphere GNSS offers GNSS-based solutions that are focused on agriculture, construction and mining, marine, and L-band correction service markets.
The company designs software solutions and electronic systems.
Its core technology capabilities include application-specific integrated circuit chips, radio frequency signal processing, navigation algorithms, circuit boards, and satellite-based correction designs.
Hemisphere GNSS president and CEO Farlin Halsey said: “Our team is excited to combine resources and talent with CNH Industrial.
“This enables us to further enhance 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.”
The combination of Hemisphere GNSS’ technology and products is expected to help CNH Industrial customers to have a superior user experience in the field and on the job site.
Following the completion of the transaction, Hemisphere GNSS will operate as an independent business through its operations in the US, Canada, and Australia.
The transaction is anticipated to close within Q3 2023, subject to Unistrong’s shareholders’ and regulatory approvals.