AgJunction Completes Sale of Outback Guidance Business
AgJunction will retain the intellectual property and engineering staff concentrated in two engineering centers of excellence in Scottsdale, Arizona, and Brisbane, Australia.
AgJunction Inc. (TSX: AJX), the Autosteering Company™, has closed the sale of the assets of its Outback Guidance (Outback) business to Hemisphere GNSS (HGNSS). The transaction will allow AgJunction to focus on its core strategy to grow the market for autosteering.
The asset sale of Outback includes the Outback Guidance® brand, the REBEL™ autosteering products, and AgJunction's Hiawatha, Kansas and Winnipeg, Canada facilities. HGNSS will take over the relationships with the Outback independent dealer network, and the majority of the Outback workforce are transitioning to HGNSS.
AgJunction will retain the intellectual property and engineering staff concentrated in two engineering centers of excellence in Scottsdale, Arizona, and Brisbane, Australia.
The specific terms of the transaction are confidential.
About AgJunction
AgJunction Inc., the Autosteering Company™ is a global leader of advanced guidance and autosteering solutions for precision agriculture applications. Its technologies are critical components in over 30 of the world's leading precision Ag manufacturers and solution providers and it holds over 130 fundamental steering and machine control patents. AgJunction markets its solutions under leading brand names including Novariant®, Wheelman™, Whirl™ and Satloc® and is committed to advance its vision by bringing affordable hands-free farming to every farm, regardless of terrain or size. AgJunction has locations in Silicon Valley, Arizona, and Australia, and is listed on the Toronto Stock Exchange (TSX) under the symbol "AJX." For more information, please go to www.agjunction.com.
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