CNH Industrial buys software house NX9 to bolster agriculture business

2 minute read

Italian-American Industrial vehicle maker CNH's logo is pictured at an event held to present CNH's new full-electric and Hydrogen fuel-cell battery trucks in partnership with U.S. Nikola event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca

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MILAN, Dec 2 (Reuters) - Vehicle maker CNH Industrial (CNHI.MI) has bought software engineering firm NX9, it said on Thursday, in a further step to boost digital innovation in its agricultural division as it prepares to spin off its truck, bus and engine operations.

U.S.-based NX9 is a small software house specializing in so-called 'ISOBUS' technology for agricultural equipment, an industry-standard communication protocol which allows machines and implements to talk to each other, CNH said in a statement.

No financial details of the deal were disclosed.

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The investment builds upon the company's strategic effort "to more efficiently innovate and develop products in the precision agriculture space", CNH Industrial said.

The Italian-American group, which is controlled by Exor (EXOR.MI), the holding company of Italy's Agnelli family, will complete on Jan. 3 a plan to spin off its truck and bus units and its FPT engine division and list them under the Iveco Group name.

After the spin-off, CNH - the world's second largest agricultural equipment maker after Deere & Co (DE.N), operating under the New Holland, Case IH and Steyr brands - will focus on its agriculture machine and construction equipment businesses.

Earlier this year the group struck a $2.1 billion deal to buy Raven Industries to boost its precision agriculture and autonomy operations. read more

Last month it entered into a multi-year licensing agreement for electrification technologies with Monarch Tractor, a U.S. company focused on fully electric autonomous tractors. read more

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Reporting by Giulio Piovaccari; Editing by Jan Harvey

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