On Nov. 11, 2023, Following the recently announced Joint Venture (JV) with Trimble, AGCO signed an agreement to acquire digital assets from FarmFacts GmbH, 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.
Terms of the transaction once closed will not be disclosed.
AGCO has announced the start of “AGCO Ventures.” This initiative formalizes AGCO’s approach to sourcing and funding new and early-stage technologies to drive innovation by investing in start-up companies, venture funds, incubators, accelerators, higher education and research institutions.