October 2, 2013
Monsanto is hot to expand further into data services for farmers.
Toward that end, the company on Tuesday morning announced that it will acquire The Climate Corporation for $930 million. Climate Corporation underwrites weather insurance for farmers, basically in real time, using some of the most sophisticated data tools available to determine the risks posed by future weather conditions and events.
And the company doesn’t limit itself to weather data. As politicians, pundits, and people on the Internet continue to argue over whether climate change is real, the insurance industry has for years been operating under the assumption that it is. So Climate Corporation uses data from major climate-change models — the very ones that are under constant assault by doubters — in its calculations.
Read the full story at: modernfarmer.com/2013/10/monsanto-spent-1-billion-climate-data