Jain Irrigation said Wednesday that its subsidiary in the US has acquired cloud-based platform the ETwater and its line of weather-adaptive smart controllers for an undisclosed amount.
In a regulatory filing, the company said its a small acquisition and it will help fortify the US-based subsidiary's position in the American smart agriculture market with Internet of Things (loT) and also to scale up operations in the said geography.
Terms of the deal were not disclosed, and the transaction will close shortly after certain customary conditions are fulfilled, it added.
"Jain is an early leader in the 'Internet of Things' for agriculture. ETwater improves our position in agriculture and helps us make a bigger impact in reducing water waste in landscape irrigation," Jain Irrigation Inc USA President Aric Olson said.
The cloud-based ETwater platform takes environmental data from multiple sources, including landscape specific information such as plant types, soil, slope conditions, and more to generate an automated, scientifically calculated watering schedule that will adjust as the weather changes.
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