The acquisition is expected to close later in January with a price of approximately $42 million
Valmont acquires shares of another company. Source: shutterstock.com
Valmont, the engineered products company, announced its entry into a definitive agreement to acquire the remaining 49% stake in AgSense.
As long as its 51% stake was acquired in August 2014, AgSense’s operating results have been included in the company’s consolidated financial statement.
Although, the transaction will not impact revenue or operating income but will be earning per share accretive in fiscal 2020.
AgSense and its industry-leading remote management technology provided integrated and advanced irrigation technology solutions available to the market, growing to approximately 95,000 connected devices worldwide.
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