CNH Industrial N.V. ( CNHI Quick Quote CNHI - Free Report) recently acquired a minority stake in Augmenta, an agricultural technology company which creates real-time, camera-based system that modifies pre-owned farming equipment and automates farming operations like nitrogen and chemical applications. Headquartered in Paris, Augmenta is dedicated toward developing precision farming solutions based on computer vision and artificial intelligence (AI). Augmenta’s real-time farming system is developed on the cabin roof of the tractor and uses multi-spectral 4K cameras that scan the field before commencing normal farming operations. It uses AI to evaluate the foliage status and other visual patterns, like damaged or flooded spots. It automatically applies appropriate amounts of fertilizers or chemicals to the field in a single tractor pass. This system enables to significantly reduce wastage by using appropriate amounts of fertilizers or chemicals, thereby lowering operating costs and enhancing sustainable practices. Augmenta’s technology will be available globally through CNH Industrial’s AGXTEND portfolio, which is the leading platform for innovative technologies in the agricultural sector. Benefits of the Alliance
The acquisition is a win-win deal for both Augmenta and CNH Industrial.
For Augmenta, partnership with a top-tier original equipment manufacturer like CNH Industrial will help the company expedite its aspiring research and development plans, and widen the distribution network across the globe. This will help the company cater its sustainable precision automation to farmers worldwide. CNH Industrial is optimistic about this partnership, as it will provide its customers with augmented access to productivity enhancing automation technologies and groundbreaking agricultural innovations as well as significant sustainability benefits. Furthermore, it fortifies the product portfolio of AGXTEND. Encouragingly, this alliance will make enable future joint research and development by both companies. It will also make CNH Industrial a strategic partner in Augmenta’s crop sensing and machinery automation. Moreover, the partnership is in sync with CNH Industrial’s strategy of investing in advanced agricultural technologies in order to strengthen its entire product portfolio. Based in the U.K., CNH Industrial offers vehicles for agricultural and industrial purposes. Its products range from tractors to trucks and buses, along with powertrain solutions for off and on-road, and marine vehicles. Last November, CNH Industrial entered into a five-year agreement to collaborate with Microsoft ( MSFT Quick Quote MSFT - Free Report) and Accenture ( ACN Quick Quote ACN - Free Report) for developing smart connected products and services, and boosting its digital technologies. The alliance is an inherent part of CNH Industrial’s digital transformation drive, which is projected to help the company achieve significant revenue growth and assemble a digitally-empowered team in order to boost its sustainability. CNH industrial, peers of which include Toyota ( TM Quick Quote TM - Free Report) , and Daimler AG, currently carries a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Notably, shares of the company have rallied 159.2% in the past year, while the industry has witnessed a rise of 35.6%. These Stocks Are Poised to Soar Past the Pandemic
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