The Climate Corporation, a subsidiary of Monsanto Co., said that it has signed definitive agreements to allow farm equipment maker Deere & Co. (NYSE: DE – $79.64) to acquire its planting equipment business for an undisclosed sum, pending regulatory approval. The deal also allows near real-time data connections between certain John Deere farm equipment and Climate’s high-tech farming platform, Climate FieldView. Yesterday, Deere announced it had signed an agreement to acquire Monosem, the European market leader in precision planters. The purchase includes the company’s four facilities in France and two in the United States. The acquisition of Monosem, will also help accelerate John Deere’s market reach in precision planting equipment and adds engineering expertise to further develop planting technology. No terms were forthcoming in the Monosem deal, either. Deere continues to face weak commodity pricing for products and purchases of new equipment by farmers will be hard to find for the remainder of this year and next. However, Deere with its global footprint, superior reputation and rock-solid finances should do well over the long-term. Meanwhile, the 3% dividend yield will provide some downside risk at current depressed levels.