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Monsanto to buy Precision Planting in $250 million deal

Monsanto Co. said today that it has agreed to buy Precision Planting Inc., a planting technology developer, in a deal worth up to $250 million.

Tremont, Ill.-based Precision Planting develops software, hardware and after-market production equipment to help farmers analyze and boost yield and productivity. It will become part of Monsanto’s Integrated Farming Systems unit. Monsanto said it will pay $210 million for the business, plus a performance-based payment of up to $40 million.

[St. Louis Business Journal]