Today, Monsanto made it public that it will acquire The Climate Corporation, the company known for its robust weather and crop insurance programs available in the U.S. In a call this morning, Kerry Preete, Monsanto’s executive vice president of global strategy, and David Feidberg, chief executive officer of The Climate Corporation, fielded questions from the media and explained some details of the acquisition.
While the acquisition still has to go through formal approval processes, it seems this will be a smart move for both parties. Fieldberg, who founded the company in 2006 after leaving Google, hinted during the call that The Climate Corporation will benefit from Monsanto’s international reach. The Climate Corporation currently only offers its services to growers in the U.S.
And Monsanto’s Preete explained that the acquisition is a natural fit as the company’s FieldScripts high-tech planting management system rolls out to customers. The system allows for variable-rate planting based on field conditions.
Monsanto’s IFS strategy lead Ted Crosbie chimed in to explain how weather-related data from The Climate Corporation will enhance FieldScripts. He said that FieldScripts was designed assuming normal weather conditions, but the FieldScripts developers knew that wasn’t the best approach.
“Weather-adjusted FieldScripts is the way to go. That’s what we’ve always wanted to do,” Crosbie said.
Rolling The Climate Corporation’s weather data into FieldScripts will take time, though. By this time next year, Monsanto hopes to make that weather-adjusted FieldScripts system available to growers.
To read the full press release from Monsanto, visit the company’s website.
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