Lindsay Further Enhances Portfolio, Completes Acquisition of Minority Interest in Pessl Instruments
Producers around the world benefit from strategic investment in agricultural solutions
OMAHA, Neb., Jan. 6, 2025 /PRNewswire/ -- 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.
About Lindsay Corporation
Lindsay Corporation (NYSE:LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world's rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world's roads, bridges and tunnels, through the Barrier Systems™, Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit www.Lindsay.com.
FieldNET, FieldNET Advisor, FieldWise, Zimmatic, Barrier Systems, Road Zipper, and Snoline are trademarks or registered trademarks of Lindsay Corporation and/or its affiliates.
About Pessl Instruments GmbH
For more than 40 years, Pessl has been offering tools for informed decision-making. A complete range of wireless, solar powered monitoring systems under the METOS™ brand, and an online platform FieldClimate are applicable in all climate zones, in more than 25 languages and can be used in various industries and for various purposes – from agriculture to research, hydrology, meteorology, flood warning, snow removal, sports turf, smart city and many more. Over the years, METOS has become a global brand with local support and has managed to reach out to almost every corner of the world. The METOS brand lasts longer, performs better, is easier to use and offers you the lowest total cost of ownership. For more information about Pessl, visit www.metos.global.
FieldClimate and METOS are trademarks of Pessl Instruments GmbH and/or its affiliates.
This release contains forward-looking statements that are subject to risks and uncertainties, such as the satisfaction of the transaction's customary closing conditions including regulatory approvals, and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, company performance, and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that Lindsay Corporation files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and those statements preceded by, followed by or including the words "anticipate," "estimate," "believe," "intend," "expect," "outlook," "could," "may," "should," "will," or similar expressions. For these statements, Lindsay Corporation claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Lindsay Corporation undertakes no obligation to update any forward-looking information contained in this press release.
CONTACT: Tara Meier, Lindsay Corporation, [email protected], (531) 236-9979
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SOURCE Lindsay Corporation