Hemisphere GNSS Acquires Outback Guidance Business from AgJunction, Inc.
Acquisition strengthens and supports Hemisphere’s global strategy for the agriculture marketplace
Scottsdale, AZ, USA – August 20, 2018 – Hemisphere GNSS, Inc. announces the signing of a definitive agreement to purchase all of the assets of the Outback Guidance (Outback) business from AgJunction, Inc. (TSX:AJX) along with a new technology licensing agreement. The transaction is expected to close in the 3rd quarter, contingent on normal regulatory approvals. This acquisition aligns well with Hemisphere’s continued push into the global agriculture market. In addition to the included IP licenses for business into the dealer channel, a second license was signed to allow agriculture steering solutions sales into OEM (original equipment manufacturer), VAR (value-added reseller), and all other segments of the agriculture supply chain.
As a result of these agreements, Hemisphere will assume ownership of the Outback Guidance assets, including channel, infrastructure and trademarks. Additionally, licenses to intellectual property and related technology have been executed. Also included are two product development, sales, and support facilities, including personnel, located in Hiawatha, KS, USA and Winnipeg, MB, Canada.
“The decision to acquire the Outback Guidance business will significantly accelerate Hemisphere’s expansion into the global agriculture market and allow stronger integration between Hemisphere’s core competency GNSS and Outback’s highly refined steering solutions,” said Farlin Halsey, President &...