Swiss investment holding company TBG AG has taken ownership on Midwest-based Telvent DTN, the agricultural information company best known for the DTN news site and Progressive Farmer magazine. The $900-million transaction was announced in April and took effect at the start of June.
Greg Horstmeier, DTN editor in chief, said TBG “is known for buying strong companies and investing in them to make there even stronger.” DTN and the Progressive Farmer will retain their names under the new owners, he said, just as they did when Schneider Electric, a French company, purchased the parent Telvent operation in 2011.
“TBG is the investment vehicle of the Thyssen-Bornemisza family, descendants of the founder of German steel-maker Thyssen, now part of Thyssenkrupp AG,” said Bloomberg. Telvent DTN had revenue of $213 million but Schneider decided it was not a core part of its operations.