|AgJunction Completes Sale of Outback Guidance Business|
HIAWATHA, KS, Sept. 4, 2018 /PRNewswire/ - AgJunction Inc. ( AJX.TO), the Autosteering Company™, has closed the sale of the assets of its Outback Guidance (Outback) business to Hemisphere GNSS (HGNSS). The transaction will allow AgJunction to focus on its core strategy to grow the market for autosteering.
The asset sale of Outback includes the Outback Guidance® brand, the REBEL™ autosteering products, and AgJunction's Hiawatha, Kansas and Winnipeg, Canada facilities. HGNSS will take over the relationships with the Outback independent dealer network, and the majority of the Outback workforce are transitioning to HGNSS.
AgJunction will retain the intellectual property and engineering staff concentrated in two engineering centers of excellence in Scottsdale, Arizona, and Brisbane, Australia.
The specific terms of the transaction are confidential.