Ranchview, a start-up company, develops products that use cellular networks instead of the traditional radio systems that are typically used to deliver RTK (Real Time Kinematic) corrections to GPS enabled equipment. RTK corrections improve the accuracy of GPS equipment. The network can also be used to provide high speed Internet access.
“This product line is a natural extension and fits well with our strategy to improve the movement and use of data in agriculture, plus it provides a simpler solution for providing RTK corrections,” noted Raven President and Chief Executive Officer Ronald M. Moquist. “We anticipate that this acquisition will contribute to next year’s earnings. How much will depend on the success of the Ranchview products and services as they are rolled out,” he added.
Matt Burkhart, General Manager of Raven’s Applied Technology Division, explained, “We are aggressively pursuing ways to put the most comprehensive precision ag technologies in the hands of our customers. In the end, growers will benefit from the integration of these products into our lineup and the lower costs necessary to achieve RTK accuracy.”