- Oops!Something went wrong.Please try again later.
CNH Industrial N.V. CNHI 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 and Accenture ACN 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, 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
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Toyota Motor Corporation (TM) : Free Stock Analysis Report
Accenture PLC (ACN) : Free Stock Analysis Report
CNH Industrial N.V. (CNHI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research