Lindsay Announces Agreement to Acquire a Minority Interest in Pessl Instruments
Strategic investment builds on previously announced partnership and will enhance
Pessl boasts more than 80,000 connected in-field data collection devices globally, with 50,000 active customers using its FieldClimate online interface. These connected devices include weather stations, soil moisture probes, insect monitoring traps, crop monitoring cameras, soil and nutrient sampling, machine and asset trackers, and other sensors providing real-time data on key agronomic health indicators. Coupled with Lindsay’s FieldNET Advisor™ platform, which synthesizes millions of data points to make custom recommendations to growers for precise, efficient water application, METOS® and FieldNET® provide a leading-edge solution that opens the door for ground-breaking future innovations in the utilization of artificial intelligence in agriculture, grounded in measurable, precise, and instantaneous data validation.
“Lindsay remains committed to providing world-class solutions to growers around the globe while also delivering incredible value for our shareholders,” said
The investment will strengthen both Lindsay’s and Pessl’s leadership positions in key global markets, enabling Pessl to benefit from Lindsay’s leading position in row crop applications and Lindsay to benefit from Pessl’s leading position in specialty crop applications. Last year, the two organizations announced a strategic partnership that has already revealed synergistic potential to unlock incremental value and problem-solving solutions for agricultural producers worldwide. This formal investment will make Lindsay and Pessl, together, the clear global in-field connected irrigation device leader.
The transaction is expected to close in the second half of fiscal 2024, subject to customary closing conditions including regulatory approvals.
About
FieldNET, FieldNET Advisor, Zimmatic, FieldWise, Barrier Systems, Road Zipper and Snoline are trademarks or registered trademarks of
About
For almost 40 years, Pessl has been offering tools for informed decision-making. A complete range of wireless, solar powered monitoring systems under the METOS® brand, and an online platform FieldClimate are applicable in all climate zones and can be used in various industries and for various purposes – from agriculture to research, hydrology, meteorology, flood warning, snow removal, sports turf, smart city and many more.
Over the years, METOS® has become a global brand with local support and has managed to reach out to almost every corner of the world. The METOS® brand lasts longer, performs better, is easier to use and offers you the lowest total cost of ownership. For more information about Pessl, visit www.metos.global.
FieldClimate and METOS are trademarks or registered trademarks of
This release contains forward-looking statements that are subject to risks and uncertainties, such as the satisfaction of the transaction’s customary closing conditions including regulatory approvals, and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, company performance, and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that
View source version on businesswire.com: https://www.businesswire.com/news/home/20240403283778/en/
For further information, contact:
Vice President, Investor Relations &
+1 402-933-6429
Alicia.Pfeifer@lindsay.com
Neža JANČIČ
+43 31 72 55 21
Neza.Jancic@metos.at
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