Burnsville-based DTN strengthens its agricultural weather products with a $ 12 million acquisition.
The targeted acquisition of the ClearAg product line from Iteris Inc. is DTN’s seventh purchase since 2018 to expand its line of weather forecasting and data information services. The company, backed by private Swiss-based venture capital firm TBG AG, also provides forecasting services to the oil and gas industry, among others.
The latest agreement includes technology that provides field-level data on weather, soil conditions and crop health for precision agricultural applications.
“ClearAg is a global leader, providing the best solutions for customers throughout the agricultural supply chain,” Steve Matthesen, CEO of DTN, said in a statement. “We will leverage their predictive agronomic knowledge to generate more value for our agro-industrial customers and individual producers. “
In addition, the two companies have agreed to jointly pursue new opportunities in the global transportation market.
DTN, which has approximately 1,200 employees, will add 50 more to the transaction.
Last month, DTN offered free weather forecasting services to hospitals and healthcare systems managing COVID-19 responses so they can better manage physical and human resources in anticipation of severe weather events. So far, 16 healthcare organizations across the country have adopted DTN’s Weather Sentry service.