logo
  

Merck Animal Health To Buy Vence; Financial Terms Not Disclosed

Merck Animal Health, a division of Merck & Co., Inc. (MRK), announced Thursday that it has signed a definitive agreement to acquire Vence from its founders and shareholders. Specific terms of the agreement were not disclosed.

Vence provides virtual fencing for rotational grazing and livestock management.

The acquisition is expected to be completed in the third quarter of 2022, subject to customary closing conditions.

Vence, a privately held company, 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.

Vence technology is currently available in the United States and parts of Australia.

Rick DeLuca, president, Merck Animal Health, said, "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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Stocks staged a significant recovery attempt after pulling back sharply in early trading on Wednesday but still ended the day modestly lower. The major averages gave back ground after moving sharply higher over the two previous sessions. Three scientists have shared the Nobel Prize for Chemistry for their work that led to the development of linking molecules together, known as click chemistry, and bioorthogonal chemistry. Morten Meldal and K. Barry Sharpless have laid the foundation for a functional form of chemistry - click chemistry - in which molecular building blocks snap together quickly and efficiently. Carolyn R. Bertozzi The Institute for Supply Management released a report on Wednesday showing a modest slowdown in the pace of growth in U.S. service sector activity in the month of September. The ISM said its services PMI edged down to 56.7 in September from 56.9 in August, although a reading above 50 still indicates growth in the sector.
Follow RTT