Raven Industries, Inc. agreed to acquire remaining 89.5% stake in Augmenta Agriculture Technologies P.C. from Marathon Venture Capital and Hardware Club for USD 110 million on March 13, 2023. The transaction is valued at an enterprise value of $110 million. CNH Industrial held an existing 10.5% minority stake in the business prior to the transaction. The transaction will be funded with available cash on hand. The transaction is subject to the satisfactory completion of customary closing conditions and receipt of regulatory approvals. Closing is expected to occur in the first quarter of 2023. Olivier Jouffroy, Benjamin Cichostepski, Anne-Sophie Kerfant, Malik Idri, Julia Apostle, Nadège Owen and team of Orrick Rambaud Martel acted as due diligence providers to CNH Industrial in this acquisition. Lambros Belessism, Evi Kitsou, Fotodotis Malamas, Maria Kloni , Aristeidis Papathanasiou, Sildia Fotopoulou, Yolanda Kalogirou, Martha Ntounou, Chryssa Andresaki, Angeliki Chlivinou of M. & P. Bernitsas Law Offices acted as legal advisor to Raven Industries, Inc. Orrick Rambaud Martel acted as legal advisor to Raven Industries, Inc.

Raven Industries, Inc. completed the acquisition of remaining 89.5% stake in Augmenta Agriculture Technologies P.C. from Marathon Venture Capital and Hardware Club on March 13, 2023.