Milan | Reuters — CNH Industrial has bought software engineering firm NX9, it said on Thursday, in a further step to boost digital innovation in its agricultural division as it prepares to spin off its truck, bus and engine operations.
U.S.-based NX9 is a small software house specializing in so-called ‘ISOBUS’ technology for agricultural equipment, an industry-standard communication protocol which allows machines and implements to talk to each other, CNH said in a statement.
No financial details of the deal were disclosed.
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The investment builds upon the company’s strategic effort “to more efficiently innovate and develop products in the precision agriculture space,” CNH Industrial said.
The Italian-American group, which is controlled by Exor, the holding company of Italy’s Agnelli family, will complete on Jan. 3 a plan to spin off its truck and bus units and its FPT engine division and list them under the Iveco Group name.
After the spin-off, CNH — the world’s second largest agricultural equipment maker after Deere and Co., operating under the New Holland, Case IH and Steyr brands — will focus on its agriculture machine and construction equipment businesses.
Earlier this year the group struck a US$2.1 billion deal to buy Raven Industries to boost its precision agriculture and autonomy operations. CNH on Tuesday announced the closing of that deal.
Last month it entered into a multi-year licensing agreement for electrification technologies with Monarch Tractor, a U.S. company focused on fully electric autonomous tractors.
— Reporting for Reuters by Giulio Piovaccari in Milan.
