Merck Animal Health to Acquire Vence
September 22 2022 - 7:30AM
Business Wire
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).
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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: Peter Dannenbaum (908)
740-1047 peter.dannenbaum@merck.com
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