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Monsanto Buys Climate Corporation for $1.1 Billion
Green Technology Featured Articles
October 03, 2013

Monsanto Buys Climate Corporation for $1.1 Billion

By Tammy Marie Rose
TMCnet Contributing Writer

Biotech Company Monsanto has announced that it has purchased Climate Corporation for $1.1 billion. Part of the all-cash deal will be paid out over time as an employee retention plan.

The Climate Corporation's expertise is data science. The company takes a wide range of data and turns it into valuable insights and advice for farmers. Climate Corporations data information can help farmers make smarter choices using fewer resources including decisions such as planting earlier or changing their irrigation schedules.


"The Climate Corporation’s data science expertise is an important complement to our Integrated Farming Systems research platform which provides farmers with field-by-field recommendations on how to maximize yield and manage risk. The Climate Corporation’s weather-modeling capabilities complement our current FieldScripts offering by adding an additional dimension of analysis to seed prescriptions," according to Monsanto.

Climate Corporation uses machine learning to aid in predicting the weather and other important essentials to farming. The company is backed by the Founders Fund, Khosla, Google (News - Alert) Ventures, NEA, Index Ventures and Atomico. The acquired company will continue to operate as the Climate Corporation.

Monsanto's purchase of The Climate Corporation comes on the same day that they reported a 4th quarter loss of $249 million, or $0.47 per share. Monsanto will position this acquisition as part of its long-term recovery plan. It is the companies hope that The Climate Corporation's climate change monitoring technology will help Monsanto manage any future risk better.

Monsanto is often criticized for pushing genetically modified organisms as food and specializes in making genetically modified seeds and chemical pesticides.

Earlier this year, Monsanto CEO Hugh Grant told the Wall Street Journal that the company only began examining the issue of global warming about four years ago. At the time of the interview, the company still thought climate change was 'fiction.' The acquisition of The Climate Corporation lends to Monsanto's new stand that, "There's definitely something there. This isn't an anomaly. There's enough evidence to suggest that it's getting warmer."




Edited by Stefania Viscusi


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