MILAN, March 30 (Reuters) - CNH Industrial (CNHI.MI) said on Thursday that it had agreed to buy Hemisphere GNSS, a high-performance satellite positioning technology company, for $175 million to improve automation in its agriculture and construction businesses.
Just before that, in 2021, it bought U.S.-based Raven for $2.1 billion to consolidate its presence in the precision farming segment.
"Combined with our Raven Brand's capabilities, this development gives us full control of our precision and navigation technologies," CNH said with reference to the deal announced on Thursday.
CNH said Hemisphere's core technology capabilities included application-specific integrated circuit chips, circuit boards, radio frequency signal processing, navigation algorithms and satellite-based correction designs.
Hemisphere will continue to operate as a standalone business through its operations in the U.S., Canada and Australia, CNH said.