Acquisition strengthens and supports Hemisphere’s global strategy for the agriculture marketplace
Scottsdale, AZ, USA – September 4, 2018 – Hemisphere GNSS, Inc. (Hemisphere) announces the closing of the prior announced 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. This acquisition aligns well with Hemisphere’s continued push into the global agriculture market. In addition to the included IP (intellectual property) licenses for business into the dealer channel, a second license was finalized to allow agriculture steering solutions sales into OEM (original equipment manufacturer), VAR (value-added reseller), and all other segments of the agriculture supply chain.
Hemisphere has assumed ownership of the Outback assets, including a well-established global sales channel, infrastructure, and trademarks. Additionally, licenses to IP 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.
“Outback’s highly-knowledgeable personnel and dealer network will provide us with a key piece of the agriculture supply chain that perfectly complements Hemisphere’s current global agriculture strategy,” said Farlin Halsey, President and Chief Executive Officer of Hemisphere GNSS. “In conjunction with the announcement, we are happy to announce that Jeffrey Farrar will lead the Outback business as General Manager. Prior to joining Hemisphere, Mr. Farrar was Vice President of Sales for AgJunction and served in a capacity of Director and senior management-level positions for both Sales and Marketing for AgJunction and Hemisphere GPS. Jeffrey’s previous leadership and history with the Outback business makes him the ideal person to direct the future growth of this business.”
“Outback has always been a household name in the agriculture space associated with simplicity, performance, and value, and we intend to keep it that way,” said Jeffrey Farrar, General Manager of Outback Guidance. “I look forward to ensuring that the Outback business thrives and that the solution and technology offerings are maintained and supported, as we look to refresh and update product lineups. We are committed to helping and supporting our dealer network, farmers, and growers alike to ensure they continue feeding the world.”
The addition of Outback represents Hemisphere’s continued effort to make significant investments to expand its presence in the global agricultural market. Hemisphere has seen successful revenues and wide-reaching positive feedback in recent years with its OEM focused agriculture products. Hemisphere seeks to further integrate its high-precision GNSS positioning technology via systems and services offered by the Outback dealer network.
The Outback channels of communication including customer support, sales, and website, will remain as they currently operate. The Outback dealer network will not see any interruption during this transition period. For any Outback related customer support and sales inquiries, please contact:
Customer Support: email@example.com
About Hemisphere GNSS
Hemisphere GNSS is an innovative technology company that designs and manufactures high-precision positioning products and services for use in OEM/ODM, marine, machine control & guidance, agriculture, and L-band correction service markets. Hemisphere holds numerous patents and other intellectual property and sells globally with several leading product and technology brands including Athena™, Atlas®, Crescent®, Eclipse™, Outback Guidance®, and Vector™ for high-precision applications. Hemisphere is based in Scottsdale, AZ, USA, with offices located around the globe, and is part of Beijing UniStrong Science & Technology Co., Ltd.
For more information, please contact:
Phone: +1 (480) 348-6380