AGCO Corporation bets on tech transformation to become industry leader in smart farming solutions

AGCO Corporation bets on tech transformation to become an industry leader in smart farming solutions

Duluth, Georgia, USA: Following the recently announced transformational joint venture (JV) with Trimble, which creates an industry-leading global mixed-fleet precision ag platform, AGCO Corporation, a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, continues its technology evolution with exciting announcements.

Speaking on the tech acquisitions, Eric Hansotia, Chairman, President and Chief Executive Officer, AGCO said, “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. 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 provide them with the latest in smart farming solutions.”

Acquisition of FarmFacts’ digital assets strengthens 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 specialises 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 customised solutions that include documentation, fertiliser 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.

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Highlighting the acquisition of FarmFacts’ digital operations, Seth Crawford, Senior Vice President and General Manager, Precision Ag & Digital, AGCO Corporation said, “The purchase of FarmFacts’ digital operations is a strategic addition to our precision agriculture capabilities. As a key provider of data management solutions driving productivity and efficiency, FarmFacts will help us to better serve our European farmers.”

Dr. Marlen Wienert, Board Member, BayWa AG said, “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. AGCO is acquiring NEXT Farming to offer a suitable cloud solution to improve the performance, productivity and security of these applications. We believe AGCO will do an exceptional job with this.”

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 formalises 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 startups, 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.

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