AgJunction and Novariant merge, announce management appointments

The merger announced March 16 between AgJunction and Novariant is now complete, which benefits AgJunction with a bigger product portfolio, including over 140 patents, as well as a larger global presence, a broader original equipment manufacturer and value at-risk partner list and increased R&D capability.

Novariant CEO Dave Vaughn will become the CEO of the combined company and former AgJunction CEO Rick Heiniger will be named senior project adviser to Vaughn. Other important appointments include Jonathan Ladd will be appointed chairman of the board and senior strategic adviser to Vaughn and Michael Lang, the current chairman of the board will be vice-chairman. Mike Manning will continue as interim senior vice president and chief financial officer.

"The merger between AgJunction and Novariant is a transformative step in our shared long-term vision to deliver best-of-breed guidance, autosteering and machine control hardware and software solutions for manufacturers and value added resellers throughout the worldwide Agriculture markets," Vaughn said. "By combining two premier providers of advanced steering solutions for precision agriculture, we can better capitalize on the growing opportunities created by the accelerating demand for configurable precision control products and services. Combined, we are ideally positioned to serve our customers more effectively and committed to building on our market-leading solutions portfolio, creating the most compelling and comprehensive offering for both current and new customers seeking global steering control solutions and services."

On June 30, the combined company had zero debt, $17 million in cash and cash equivalents, and a working capital of $33 million.

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