Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced it has completed its acquisition of a 49.9 percent minority interest in Austria-based Pessl Instruments.
The investment in Pessl, a global provider of advanced technology solutions, helps advance Lindsay’s efforts to drive significant investment and innovation in AgTech and address the food, fuel, and fiber demands of the world’s growing population.
The strategic partnership between Lindsay and Pessl has evolved and progressed since it was announced in May 2023, and producers are gaining significant advantage from the integration. Growers utilizing Lindsay’s award-winning FieldNET™ and FieldNET Advisor™ remote irrigation management platforms, in conjunction with Pessl’s METOS™ weather stations, soil moisture probes, and data-driven FieldClimate software, benefit from advanced agronomic solutions. By combining these innovative tools, producers worldwide have access to a vast array of data points from in-field sensors, enabling them to make informed decisions that promote healthy crops, optimize inputs like water, fertilizer, and pesticides, and achieve higher yields.
“With this investment, Lindsay will strengthen its position as the leading irrigation management and scheduling solution provider in the industry,” said Randy Wood, Lindsay President and CEO. “No other company has the same ability to connect on-farm equipment, in-field sensors and remote sensing assets to provide producers with affordable and scalable solutions. We are excited about the incredible potential that our investment in Pessl brings, as we continue to collaborate on the development of new AI-based products to add to our suite of Smart Pivot Solutions.”
Pessl boasts more than one million sensors connected to 100,000 in-field data collection devices globally, with 50,000 active customers using its FieldClimate online interface. These connected devices include weather stations, soil moisture probes, insect monitoring traps, crop monitoring cameras, soil and nutrient sampling, machine and asset trackers, providing key agronomic health indicators.
“We are honored to be part of the Lindsay team. We will work to connect with producers worldwide and demonstrate how they can leverage the combined potential of FieldNET, the most robust and fully vertically integrated water management platform in the industry, and METOSTM hardware and software solutions,” said Gottfried Pessl, Chief Executive Officer and Founder of Pessl Instruments. “We are excited to continue to drive innovation in AgTech and provide producers with advanced tools to enhance their productivity and efficiency.”
Lindsay’s agreement to make this investment was previously announced on April 3, 2024, and was subject to customary closing conditions including regulatory approvals. As previously disclosed, Lindsay also has an option to acquire the remainder of Pessl at a later date.
For more on Lindsay’s advanced solutions for ag producers worldwide, visit lindsay.com/irrigation.
