Topcon Announces Acquisition of NORAC

Topcon Positioning Group announces the acquisition of NORAC Systems International, a pioneer and the world's leading developer of ultrasonic sensing and boom control technology for agricultural equipment, in a private transaction

"For more than 40 years NORAC has created innovative solutions to improve efficiency on the farm. Its automated boom height control technology has transformed the use of agricultural sprayers. We are excited to unite with another precision agriculture leader, especially one that has established its leadership in a way that mirrors the growth of Topcon — by being the first to bring best-in-class technology to the market," said Ray O'Connor, president and CEO of Topcon Positioning Group.

"It's another example of our optimism for investing in the agricultural marketplace," said O'Connor. "Topcon is committed to developing automation and management solutions that bring the power of the Industrial Internet of Things (IIoT) to every farm."

NORAC provides advanced automated boom height control technology for the global agricultural marketplace. Its current product line includes systems to precisely maintain a spray boom height above the top of the crop or the ground to ensure optimum application of needed fertilizers and plant protection products.

Bill Strelioff, president and CEO of NORAC Systems International, said, "We are thrilled to have the opportunity to join the Topcon family. NORAC and Topcon have collaborated well in numerous precision agriculture development projects and know that our synergistic technologies and distribution channels make this a great fit. But just as importantly, we recognize that our company cultures are very closely aligned. That's the real key to multiplying the benefits of this union."

Founded in 1974, NORAC pioneered automated boom leveling, and currently enjoys a leading market share within the agricultural industry. In addition to the headquarters in Saskatoon, Saskatchewan, Canada, three branch offices include NORAC, Inc. (Minnesota, U.S.), NORAC Europe sarl (Guéreins, France), and NORAC Trading (Shanghai, China).

"We are excited to welcome the skilled employees at the world-class facilities of NORAC to the precision agriculture team at Topcon," said Albert Zahalka, president of Topcon Precision Agriculture. "As a global leader for boom leveling, NORAC will add considerable strength to our original equipment manufacturer (OEM) offering, and is an ideal complement to our extensive portfolio of innovative precision agriculture solutions."

The agreement marks the third precision agriculture-related purchase Topcon has made since November of 2014. It adds an additional engineering and manufacturing facility in Canada and raises the total number of Topcon employees dedicated to precision agriculture solutions to more than 700.

Source: Business Wire

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