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Will Deere (DE) Stock Rise After Expanding Precision Planters Portfolio?

NEW YORK (TheStreet) -- Deere & Co. (DE - Get Report) agreed to acquire the Precision Planting equipment manufacturing business from Monsanto Co. (MON) subsidiary The Climate Corp. for an undisclosed amount.

The company also agreed to collaborate with Climate to enable near real-time data to be sent from certain John Deere farming equipment to the Climate FieldView platform, which combines weather data with agronomic modeling to improve farming operations.

Climate will maintain Precision Planting's digital agriculture portfolio that is also integrated into FieldView.

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"This strategic acquisition expands the John Deere precision agriculture business and accelerates our momentum as a market leader," Deere chief information officer John May said in a statement.

The acquisition of Precision Planting is Deere's second acquisition of a precision planter manufacturer this week.

On Monday, the company agreed to acquire...