Merck is set to acquire the Antelliq Group for $2.37 billion, Drovers Daily reports. Merck will also assume the company’s remaining debt. Antelliq will operate as a subsidiary of Merck Animal Health Division.

Antelliq Group, formerly known as the Allflex Group, owns Allflex ear tags and SCR dairy monitoring technology. In a 12-month period ending in September 2018, the company booked $407 million worth of sales. Antitrust and competition law authorities will need to clear the deal, but both companies expect it to close by the second quarter of 2019.