USA: Hemisphere GPS has inked and closed a definitive agreement to sell the business assets associated with its non-agricultural operations to the Canadian subsidiary of Beijing UniStrong, the Chinese manufacturer of GNSS solutions. With the take-over a sum of $15 million is involved. Hemisphere GPS will continue under a new name: AgJuction.
Beijing UniStrong also has taken over the name Hemisphere GPS, and has the intention to rename it to Hemisphere GNSS. The non-agricultural operations, that will be in Chinese hands are the company’s precision products portfolio and related infrastructure. The precision products segment reported revenues of USD13.3 million in 2012 and focuses on marine, land survey, construction, mapping and OEM segments.
Source: Beijing UniStrong