CHICAGO, Nov 3 (Reuters) - The Climate Corporation, a subsidiary of Monsanto Co., said Tuesday that it has signed definitive agreements to allow leading farm equipment maker Deere & Co. to acquire Climate’s planting equipment business for an undisclosed sum.
The deal also allows near real-time data connections between certain John Deere farm equipment and Climate’s high-tech farming platform, Climate FieldView. Climate will retain the Climate Fieldview’s digital agriculture portfolio.
The deal is subject to regulatory approval, the companies said in a statement. (Reporting By P.J. Huffstutter; Editing by Chizu Nomiyama)