The acquisition is expected to be completed in the third quarter, subject to customary closing conditions. Specific terms of the agreement were not disclosed.
Vence is a privately held company that provides enhanced technology for producers and ranchers to track, monitor and manage the movement of cattle through a high-tech platform of virtual fencing solutions.
“The acquisition of Vence will broaden our portfolio with complementary products and technologies to advance animal health and well-being as well as outcomes for our customers,” Rick DeLuca, president, Merck Animal Health, stated. “Vence is a natural fit with Merck Animal Health’s growing portfolio of animal intelligence products that include identification, traceability and monitoring products. This new technology will give cow-calf producers the ability to track their cattle and the ability to move them from pasture to pasture.”
“I believe that Merck Animal Health is the best long-term home for this technology and our team. Their unparalleled expertise in the livestock space, ability to develop and scale hardware products, high-quality customer support and a strong global footprint to expand Vence’s market reach make us really excited to join Merck Animal Health,” Frank Wooten, founder and CEO, Vence, stated.
Vence technology is currently available in the U.S. and parts of Australia.