Monsanto Co. had completed its acquisition of The Climate Corp. for USD930 million. This was according to a report published by The Grower.
Monsanto is an agricultural data company based in St. Louis. It was founded six years ago. The company is a provider of insurance and weather data to farmers all around the world, the report stated.
The Climate Corp. is a firm that monitors and analyzes weather conditions. The company uses proprietary technology to produce weather forecasts. The information is then posted on the company's website, www.weather.com. Farmers access the company's forecasts using their mobile devices, the report explained.
Aside from weather forecasts, The Climate Corp. also has other products that are useful to farmers. These include a nitrogen adviser, a harvest adviser, and a plant and disease adviser. The firm also offers Total Weather Insurance. The company automatically pays farmers when their crops are affected by bad weather, The Grower reported.
The Climate Corp. is an authorized insurance provider for US federal crops, the report said.
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