Valmont To Acquire Prospera Technologies - Quick Facts

(RTTNews) - Valmont Industries, Inc. (VMI) has entered into a definitive agreement to acquire Prospera Technologies Inc. in a transaction valued at approximately $300 million. The transaction will be financed through a combination of funds from available cash and the company's revolving credit facility.

Israeli-based AI company Prospera is a developer of machine vision technologies that continuously monitor and analyze plant development, health and stress.

"Building on the successful partnership with Prospera, we are accelerating our commitment to provide services that enhance the lives of our customers, as well as finding new ways to achieve higher crop yields using less - land, water, chemicals, fertilizers, fuel and time," said Valmont CEO Stephen Kaniewski.