(Bloomberg) -- Not in the market for a new tractor? Deere & Co. would like to sell you all the equipment to make your older one smart.

With slumping crop prices, the Moline, Illinois-based company is seeking to combat slowing sales by selling farmers bolt-on products -- modems, navigation devices, sensors and software. In the process, it’s joined the race for a “precision farming” market that could be worth $240 billion by 2050, according to Goldman Sachs Group Inc.

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