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Virtual fencing system provides advanced technology to cattle producers and ranchers to manage natural resources more effectively
Complements Merck Animal Health's broad portfolio of veterinary pharmaceuticals, vaccines and animal intelligence solutions
Merck Animal Health, known as MSD Animal Health outside of the United States and Canada, a division of Merck & Co., Inc., Rahway, N.J., USA (NYSE:MRK), announced today that it has signed a definitive agreement under which Merck Animal Health will acquire Vence from its founders and shareholders. Vence is an innovator in 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. Specific terms of the agreement were not disclosed.
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. Using a computer or smartphone, customers have the capability to manage cattle movement and facilitate rotational grazing. Vence's virtual fencing technology can reduce the need for fencing to subdivide pastures and allows producers and ranchers to manage their cattle and grass inventory, while reducing costs of labor and fencing materials.
"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," said Rick DeLuca, president, Merck Animal Health. "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," said Frank Wooten, founder and CEO, Vence.
Vence technology is currently available in the United States and parts of Australia.
About Vence
Vence was founded to improve the affordability and availability of sustainably raised animal protein. We contribute to more sustainable livestock production by enabling producers to better manage their herds, better utilize their land resources, and ultimately improve the production of more than 20% of protein consumed globally. To enable our vision, we utilize connected sensors, artificial intelligence and leading animal behavioral research to help innovate one of societies oldest and most valuable industries.
About Merck Animal Health
At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than a century, we've been at the forefront of research, bringing forward medicines, vaccines and innovative health solutions for the world's most challenging diseases. Merck Animal Health, a division of Merck & Co., Inc., Rahway, N.J., USA, is the global animal health business of Merck. Through its commitment to The Science of Healthier Animals ® , Merck Animal Health offers veterinarians, farmers, pet owners and governments one of the widest ranges of veterinary pharmaceuticals, vaccines and health management solutions and services as well as an extensive suite of connected technology that includes identification, traceability and monitoring products. Merck Animal Health is dedicated to preserving and improving the health, well-being and performance of animals and the people who care for them. It invests extensively in dynamic and comprehensive R&D resources and a modern, global supply chain. Merck Animal Health is present in more than 50 countries, while its products are available in some 150 markets. For more information, visit www.merck-animal-health.com and connect with us on LinkedIn , Facebook , Twitter and Instagram .
Forward-Looking Statement of Merck & Co., Inc., Rahway, N.J., USA
This news release of Merck & Co., Inc., Rahway, N.J., USA (the "company") includes "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company's management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company's ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company's patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company's Annual Report on Form 10-K for the year ended December 31, 2021 and the company's other filings with the Securities and Exchange Commission (SEC) available at the SEC's Internet site ( www.sec.gov ).
View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005501/en/
Media Contact:
Michael Close
(973) 937-5467
michael.l.close@merck.com
Investor Contact:
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(908) 740-1047
peter.dannenbaum@merck.com
