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Monsanto eyes growing agriculture-focused information technology market

The biotechnology giant announced the $930 million acquisition of agriculture climate forecaster Climate Corporation.

October 3, 2013
KEYWORDS agriculture / GMO
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Monsanto buys Climate Corporation

Monsanto announced it will purchase Climate Corporation, a company that uses weather forecasting and data analysis to help farmers plan growing seasons, for $930 million in cash. Analysts see Monsanto making a push into the agriculture-focused information technology business as a natural companion to its agriculture biotechnology business.

"Looking into the future, growers will need every available tool to produce more yield on the same acre," said CEO Hugh Grant, during a call with analysts. "Strategically, we believe we're putting the best in class analytical capability on the largest global agricultural footprint."

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