ST. LOUIS--(BUSINESS WIRE)--
Monsanto Company (NYSE: MON) today announced it has signed a definitive
agreement to acquire The Climate Corporation for a cash purchase price
of approximately $930 million. The acquisition will combine The Climate
Corporation’s expertise in agriculture analytics and risk-management
with Monsanto’s R&D capabilities, and will provide farmers access to
more information about the many factors that affect the success of their
crops. The companies’ combined capabilities will support greater
productivity while utilizing the planet’s finite resources more
precisely.

The acquisition is expected to expand on The Climate Corporation’s
leadership in the area of data science, which represents the agriculture
sector’s next major breakthrough, and will immediately expand both the
near- and long-term growth opportunities for Monsanto’s business and
Integrated Farming Systems platform.

“The Climate Corporation is focused on unlocking new value for the farm
through data science,” said Hugh Grant, chairman and chief executive
officer for Monsanto. “Everyone benefits when farmers are able to
produce more with fewer resources. The Climate Corporation team brings
leading expertise that will continue to greatly benefit farmers and
their bottom-line, and we want to expand upon this tremendous work and
broaden their reach to more crops and more world areas. We look forward
to working closely with our distribution partners and others in the
agricultural industry to bring this suite of information resources to
the farm.”

The Climate Corporation was founded in 2006 by a highly successful team
of software engineers and data scientists formerly with Google and other
leading Silicon Valley technology companies. Since that time, the
company has built the agriculture industry’s most advanced technology
platform combining hyper-local weather monitoring, agronomic data
modeling, and high-resolution weather simulations to deliver a complete
suite of full-season monitoring, analytics and risk-management products.

“Farmers around the world are challenged to make key decisions for their
farms in the face of increasingly volatile weather, as well as a
proliferation of information sources,” said David Friedberg, chief
executive officer for The Climate Corporation. “Our team understands
that the ability to turn data into actionable insight and farm
management recommendations is vitally important for agriculture around
the world and can greatly benefit farmers, regardless of farm size or
their preferred farming methods. Monsanto shares this important vision
for our business and we look forward to creating even greater
experiences for our farmer customers.”

The Climate Corporation has a core set of support tools to benefit
farmers. These include products that help them boost yields on existing
farmland and better manage risks that occur throughout a crop season.
The Climate Corporation will continue to offer its current
risk-management products including an online service that provides crop
planning, monitoring, and recommendations, and insurance offerings
through its network of independent agents.

The acquisition is subject to customary closing conditions and is
expected to close in the first quarter of Monsanto’s 2014 fiscal year.
Following the acquisition, The Climate Corporation will operate its
business to retain its distinct brand identity and customer experience.
The company will continue to maintain headquarters in Silicon Valley and
all of its employees will be offered continued employment.

Combined Company to Be a Leader in Data
Science, Acquisition Expected to Drive Near-and Long-Term Growth
Potential

The acquisition of The Climate Corporation represents a natural
extension of Monsanto’s vision to increase crop productivity, conserve
more of our planet’s natural resources and improve the lives of people
around the world. It will also greatly expand The Climate Corporation’s
capabilities in data science, agriculture’s next major growth frontier,
an area that represents a potential opportunity of $20 billion beyond
Monsanto’s core focus today. The companies estimate the majority of
farmers have an untapped yield opportunity of up to 30 bushels to 50
bushels in their corn fields, and they believe that advancements in data
science can help further unlock that additional value for the farm.

The combined capabilities will immediately expand both the near- and
long-term growth opportunities of Monsanto’s Integrated Farming Systems
platform and research and development pipeline in the coming years.

Longer-term, the combination is expected to broaden the product choices
available to farmers beyond Monsanto’s current row crop and vegetable
portfolio, both inside and outside of the United States. This includes
the delivery of insight and decision-support tools that could increase
agriculture productivity on a billion planted acres around the globe.

Monsanto and The Climate Corporation share a commitment to delivering
innovation for farmers through a broad range of choices and service
providers. Monsanto noted that, consistent with its broad-licensing and
multi-channel approach to technology, it intends to deliver the value of
The Climate Corporation’s current and future applications through its
distribution network.

Monsanto today also announced the company’s financial results for its
fiscal 2013 fourth quarter and full year, including the financial effect
of The Climate Corporation acquisition. For more information about
today’s earnings announcement, see the press release and supporting
resources available at www.monsanto.com.

About Monsanto Company

Monsanto Company is a leading global provider of technology-based
solutions and agricultural products that improve farm productivity and
food quality. Monsanto remains focused on enabling both small-holder and
large-scale farmers to produce more from their land while conserving
more of our world's natural resources such as water and energy. To learn
more about our business and our commitments, please visit: www.monsanto.com.
Follow our business on Twitter® at www.twitter.com/MonsantoCo,
on the company blog, Beyond the Rows at www.monsantoblog.com,
or subscribe to our News
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About The Climate Corporation

The Climate Corporation aims to help farmers around the world protect
and improve their farming operations with uniquely powerful software and
insurance products. The company's proprietary technology platform
combines hyper-local weather monitoring, agronomic data modeling, and
high-resolution weather simulations to deliver climate.com, a SaaS
solution that helps farmers improve their profits by making better
informed operating and financing decisions, and Total Weather Insurance,
an insurance offering that pays farmers automatically for bad weather
that may impact their profits. The company is also an authorized
provider of the U.S. Federal crop insurance program, enabling authorized
independent crop insurance agents to provide farmers with the industry's
most powerful full-stack risk management solution. In the face of
increasingly volatile weather, the global $3 trillion agriculture
industry depends on the company's unique technologies to help stabilize
and improve profits and, ultimately, help feed the world. For more
information, please visit http://www.climate.com
or follow the company on Twitter @climatecorp.

Cautionary Statements Regarding
Forward-Looking Information:

Certain statements contained in this release are "forward-looking
statements," such as statements concerning the company's anticipated
financial results, current and future product performance, regulatory
approvals, business and financial plans and other non-historical facts.
These statements are based on current expectations and currently
available information. However, since these statements are based on
factors that involve risks and uncertainties, the company's actual
performance and results may differ materially from those described or
implied by such forward-looking statements. Factors that could cause or
contribute to such differences include, among others: continued
competition in seeds, traits and agricultural chemicals; the company's
exposure to various contingencies, including those related to
intellectual property protection, regulatory compliance and the speed
with which approvals are received, and public acceptance of
biotechnology products; the success of the company's research and
development activities; the outcomes of major lawsuits and the
previously-announced SEC investigation; developments related to foreign
currencies and economies; successful operation of recent acquisitions;
fluctuations in commodity prices; compliance with regulations affecting
our manufacturing; the accuracy of the company's estimates related to
distribution inventory levels; the company's ability to fund its
short-term financing needs and to obtain payment for the products that
it sells; the effect of weather conditions, natural disasters and
accidents on the agriculture business or the company's facilities; and
other risks and factors detailed in the company's most recent Form 10-K
Report to the SEC. Undue reliance should not be placed on these
forward-looking statements, which are current only as of the date of
this release. The company disclaims any current intention or obligation
to update any forward-looking statements or any of the factors that may
affect actual results.