Monsanto buys Climate Corp. for $930 million
The Climate Corp., founded in 2006 by software engineers and data scientists, has developed an advanced technology platform that delivers hyper-local weather monitoring, agronomic data modeling and high-resolution weather simulations to help farmers manage risk.
Monsanto said it will leverage the technology to complement its Integrated Farming Systems (IFS) research platform, which provides farmers with field-by-field recommendations for maximizing yield and mitigating risk.
"The first wave of IFS revolved around a single product, but with what we've just assembled we're now talking about a true platform with tools that span from planting the seed to many of the key variables that growers deal with throughout the growing season," said Hugh Grant, chairman and chief executive officer of Monsanto.
The addition bolsters Monsanto's "strong business engine," which delivered a third consecutive year of strong growth in fiscal 2013. ■