AGCO Continues Technology Transformation to Become an Industry Leader in Smart Farming Solutions
Summary
DULUTH, Ga.--(BUSINESS WIRE)--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.” 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. AGCO Ventures will focus on information management and analytics, ag technology, environmental and alternative fuel sources, and the future of farming.