By Colin Kellaher

 

Merck & Co. on Thursday said it agreed to buy Vence, a provider of virtual-fencing technology for rotational grazing and livestock management, in a deal that bolsters the drugmaker's animal-health portfolio,

Financial terms of the deal, which the Kenilworth, N.J., company expects to complete by the end of the month, weren't disclosed.

Merck said Vence provides enhanced technology for producers and ranchers to track, monitor and manage the movement of cattle through a platform of virtual fencing solutions. The technology is currently available in the U.S. and parts of Australia.

Merck's animal-health segment accounted for more than 10% of the company's second-quarter sales of nearly $14.6 billion.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

September 22, 2022 07:58 ET (11:58 GMT)

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