/Ingersoll Rand Buying Company Focused On Agriculture Technology

Ingersoll Rand Buying Company Focused On Agriculture Technology

By Micah Maidenberg

Ingersoll Rand Inc. said it agreed To buy a Canadian agency That provides digital controls and manufacturing-administration devices Utilized by farmers, The latest effort by The financial agency to remake its enterprise strains.

Ingersoll said Monday It is going to pay 135.4 million Canadian dollars, equal to $110.1 million, to buy Maximus.

Maximus, which has about 100 staff and annual income equal to roughly $32.5 million, provides a centralized controller system and platform that connects to farm models and is used for amenities administration.

Ingersoll said it plans to tie its Dosatron pump product to the Maximus system, thereby offering a know-how related system For patrons.

“Smart, related merchandise, digital capabilities and know-how are core to our progress and right now’s announcement delivers on our dedication to deploy capital in pursuit of this method,” said Vicente Reynal, chief authorities officer of Ingersoll Rand.

Final week, Ingersoll said It’d buy a constructive-displacement pump agency and earlier this month accomplished its sale of its Membership Automotive unit to A private-equity buyr.

Write to Micah Maidenberg at [email protected]