AGCO Continues Technology Transformation to Become an Industry Leader in Smart Farming Solutions
12 Novembro 2023 - 6:00AM
Business Wire
Tech Stack Addition of FarmFacts Digital Assets
and AGCO Ventures Among Next Steps
Following the recently announced transformational Joint Venture
(JV) with Trimble, which creates an industry leading global
mixed-fleet precision ag platform, AGCO (NYSE: AGCO), a global
leader in the design, manufacture and distribution of agricultural
machinery and precision ag technology, continues its technology
evolution with exciting announcements.
“Our JV with Trimble is the largest in our company’s history and
the biggest ag tech deal ever, and we aren’t slowing down,” said
Eric Hansotia AGCO’s Chairman, President and Chief Executive
Officer. “In addition to having a full-line of autonomous solutions
for every stage of the crop cycle by 2030, our transformation
commitment continues via acquisitions and early-stage tech
investments that keep farmers at the heart of all we do and
providing them the latest in smart farming solutions.”
Acquisition of FarmFacts GmbH’s Digital Assets Strengthen
Data Management Offerings
On November 11, 2023, AGCO signed an agreement to acquire
digital assets from FarmFacts GmbH, a leader in Farm Management
Information Software (FMIS) located in Pfarrkirchen, Germany and a
subsidiary of BayWa AG group. FarmFacts specializes in software for
farmers and service providers to generate field action plans from
prescription maps to guidance line creation. FarmFacts’ products
include the NEXT Farming AG Office application and the NEXT Farming
Live data platform and offer customized solutions that include
documentation, fertilizer requirements for site-specific management
and connections to all the major farm equipment terminals. The
acquisition increases AGCO’s FMIS offering and software development
capabilities to serve farmers’ data management needs.
“The purchase of FarmFacts’ digital operations is a strategic
addition to our precision agriculture capabilities,” stated Seth
Crawford, Senior Vice President and General Manager, Precision Ag
& Digital. “As a key provider of data management solutions
driving productivity and efficiency, FarmFacts will help us to
better serve our European farmers.”
“As we look to the future for what is best for the needs of our
customers, BayWa made the decision that AGCO is the right owner to
successfully develop the suite of FarmFacts applications to a next
level,” said BayWa AG Board Member Dr. Marlen Wienert. “AGCO is
acquiring NEXT Farming with the aim of offering a suitable cloud
solution to improve the performance, productivity and security of
these applications. We believe AGCO will do an exceptional job with
this.”
Terms of the transaction once closed will not be disclosed.
AGCO Ventures Sharpens Focus on Early-Stage Technology
Investments
Building on AGCO’s legacy of equity investments in early-stage
technologies, the company is launching “AGCO Ventures.” This
initiative formalizes AGCO’s approach to sourcing and funding new
and early-stage technologies to deliver on the company’s strategic
priorities and to drive innovation by investing in start-up
companies, venture funds, incubators, accelerators, higher
education and research institutions.
AGCO Ventures will focus on information management and
analytics, ag technology, environmental and alternative fuel
sources, and the future of farming. Find more about AGCO Ventures
at Ventures | AGCO (agcocorp.com).
About AGCO
AGCO (NYSE: AGCO) is a global leader in the design, manufacture
and distribution of agricultural machinery and precision ag
technology. AGCO delivers customer value through its differentiated
brand portfolio including core brands like Fendt®, GSI®, Massey
Ferguson®, Precision Planting® and Valtra®. Powered by Fuse® smart
farming solutions, AGCO’s full line of equipment and services help
farmers sustainably feed our world. Founded in 1990 and
headquartered in Duluth, Georgia, USA, AGCO had net sales of
approximately $12.7 billion in 2022. For more information, visit
www.AGCOcorp.com. For company news, information, and events, please
follow us on X: @AGCOCorp. For financial news on X, please follow
the hashtag #AGCOIR.
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version on businesswire.com: https://www.businesswire.com/news/home/20231112567563/en/
Aryn Drawdy Corporate Communications Director
Aryn.Drawdy@AGCOcorp.com
AGCO (NYSE:AGCO)
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