MOLINE, Ill., Nov. 2, 2015 /PRNewswire/ -- Deere & Company (NYSE: DE) said today it has signed a definitive agreement to acquire Monosem, the European market leader in precision planters. The purchase includes the company's four facilities in France and two in the United States.
"Through this action, we continue to build on our leadership position in precision agriculture," said John May, president, Agricultural Solutions and Chief Information Officer. "Monosem is admired for its innovation and success in precision planter technology that helps farmers increase production. Acquiring this market leader positions John Deere to serve more customers worldwide."
Deere does not plan to change the independent nature of Monosem. May said the business will retain its own brand and trademark and will leverage its own operational strengths. Monosem has been a family-owned enterprise through three generations since it was founded in 1948.
The acquisition of Monosem, May added, helps accelerate John Deere's market reach in precision planting equipment and adds engineering expertise to further develop planting technology. "We remain focused on helping our customers increase their productivity," he said.
Deere & Company is a world leader in providing advanced products and services and is committed to the success of customers whose work is linked to the land – those who cultivate, harvest, transform, enrich and build upon the land to meet the world's dramatically increasing need for food, fuel, shelter and infrastructure. Since 1837, John Deere has delivered innovative products of superior quality built on a tradition of integrity. For more information, visit www.JohnDeere.com.
SOURCE Deere & Company