Weiz, Austria
January 6, 2025
Lindsay Corporation (NYSE - LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, has acquired a 49.9 percent minority interest in Austria-based Pessl Instruments GmbH, with an option to acquire the remainder of the company at a later date. Pessl is a leading global provider of advanced agricultural technology solutions under the METOS® brand and offers IoT hardware and software tools for informed decision-making, including field monitoring systems with a wide array of agronomic data points that inform Lindsay’s award-winning FieldNET® remote irrigation management platform. Lindsay's partial acquisition and capital investment will leverage the combined expertise of both companies and expand value enhancement to growers.
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, which were satisfied in 2024.
Verdant Partners represented and advised the Pessl shareholders on the transaction with Lindsay.
About Pessl Instruments
Founded in 1984, Pessl Instruments is a global leader in smart agricultural technology. Pessl Instruments has been supporting growers, researchers, and managers in 85 countries for over 40 years with customizable precision agriculture hardware and software solutions designed to address everyday challenges in the field and simplify decision-making. Its METOS® brand offers a complete range of wireless, solar-powered monitoring systems, complemented by the FieldClimate app, launched in 2005 as the first web platform for collecting and displaying agro-meteorological data, making it an essential tool for farmers worldwide. For additional information about Pessl, please visit their website.
About Lindsay Corporation
Lindsay Corporation, founded in 1955 and based in Omaha, Nebraska, is a global leader in water management and road infrastructure solutions. Known for its Zimmatic® irrigation systems and FieldNET™ remote management platform, Lindsay enhances agricultural productivity and water efficiency. Its Infrastructure division, including the Road Zipper® system, improves road safety and traffic flow, reflecting the company's commitment to innovation and sustainability. For additional information about Lindsay, please visit their website.
Topics
Species
