CNH Industrial, a leading manufacturer of agriculture and industrial equipment and commercial vehicles, has acquired Augmenta, a Greek AgriTech startup focusing on solutions for scanning crop fields, to accelerate the growth of their Sense & Act technology (a technology that utilizes sensor-detected data during the spraying process to apply protection solutions to crops both before and after harvest). 

CNH Industrial will acquire Augmenta at an enterprise value of USD 110 million, subject to customary adjustments. Before the announced deal, CNH Industrial already held a 10.5% stake in Augmenta, which will be funded with available cash. The deal is expected to close in Q1 2023, subject to customary closing conditions and regulatory approvals. Following the acquisition, Augmenta will operate as part of CNH Industrial's Raven brand and maintain its offices and employees in Greece and the US.