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AG GROWTH INTERNATIONAL ACQUIRES INTELLIFARMS
Mar. 8, 2019
Farm Equipment magazine reports:
Ag Growth International (AGI) announced that it has acquired Intellifarms, according to reports. Intellifarms provides technology-based products (hardware and software) for monitoring grain conditions in storage for growers and grain processors.
Founded in 2001 and headquartered in Archie, Mo., IntelliFarms offers a technical expertise in sensor technology, embedded electronics and Internet of Things (IoT) infrastructure. Its SureTrack Farm is a central portal which offers farmers multiple tools, including seed trait data, field management and bin management.
BinManager, one of IntelliFarms' flagship products, is a grain storage management solution that leverages advanced sensor systems, cables and controls to maintain the quality of stored grain. The automated system dries, cools and rehydrates grain while preserving the protein, oil and starch content. BinManager can be integrated with conditioning equipment and allows for remote monitoring and control of the systems.
In 2018, Intellifarms launched SureTrack Pro, an online system designed to connect customers - processors, seed companies and cooperatives - with growers, which helps facilitate the negotiations and the delivery process.
"Overall, we view the acquisition of IntelliFarms as positive, as it serves to expand AGI's controls, technology and project management capabilities," David Newman and Frank Meng, analysts with Desjardins Capital Markets. "The acquisition is in line with company's growth strategy of becoming a global provider of bundled solutions to farm and commercial customers. We believe AGI is well positioned for long term growth, supported by its digital-enabled initiatives which resonate with its increasingly tech-savvy customer base."
IntelliFarms CEO Todd Sears, COO Adam Weiss and the rest of the team are expected to join AGI following its acquisition.
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