AGCO has 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.”
Terms of the transaction once closed will not be disclosed
AGCO Ventures sharpens focus on early-stage technology investment
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.