Monsanto Earnings: Company to Buy Climate Corp. for $930 Million; Loss Widens
October 2, 2013
Expanding its reach into technology and analytic services, Monsanto agreed to buy the weather-based farm analytics firm Climate Corp. for $930 million. San Francisco-based Climate Corp. was founded in 2006 and its products include ‘hyper-local’ weather monitoring and simulations, risk management products, and crop insurance. The acquisition is expected to expand Monsanto’s Integrated Farming Systems business which provides technology to farmers to help them plant crops more efficiently. Monsanto has released a statement that data science “represents the agriculture sector’s next major breakthrough.” The deal is expected to close in Monsanto’s first fiscal quarter which began on September 1st.
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