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Kubota to Acquire AgJunction for $91 Million
USAgNet - 10/11/2021

AgJunction Inc., a global provider of advanced guidance, autosteering, and autonomy solutions for precision agriculture applications, announced that it has entered into a definitive arrangement agreement to be acquired by KUBOTA Corporation for approximately $91 million.

"We are pleased to announce this transaction, which offers our shareholders a compelling opportunity to monetize their investment at an attractive valuation and significant premium to the current and historical trading price of the AgJunction shares," said AgJunction Board Chair Lori Ell.

Adoption of new automation demands tighter vehicle integration and large scale distribution. Given the competitive landscape, delayed adoption rates due to COVID-19, capital requirements and available sources of capital, AgJunction's board initiated a confidential process, supervised by the Special Committee in order to review strategic alternatives available to AgJunction and, if they emerged, to consider expressions of interest from third parties and any other transactions that AgJunction may consider in connection with strategic matters that are determined to be in the best interests of AgJunction.

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