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RAVEN INDUSTRIES ACQUIRES INTELLECTUAL PROPERTY PORTFOLIO OF JAYBRIDGE ROBOTICS
Source: Raven Industries news release

Sioux Falls, S.D. - Raven Industries, Inc. (the Company; NASDAQ:RAVN), a leader in agriculture technology, announced today that it has purchased all of the intellectual property (IP) and patents of Jaybridge Robotics, an early developer of automated agriculture technology.

Jaybridge's unique IP portfolio includes significant and critical patents for technology directly related to path-planning, obstacle detection and avoidance, and multi-machine control systems. Raven will leverage this IP portfolio with the Company's continued development of Driverless Ag Technology - including integration of the technology into the Company's AutoCart platform.

"By acquiring Jaybridge's intellectual property we are able to advance our autonomy strategy by combining necessary, technology-leading patents with our current suite of proprietary products in this space," said Jared Kocer, Raven's Director of Technology Solutions. "Having this technology will allow us to accelerate the development of vehicle automation for agriculture equipment applications."

The acquisition was completed in the first quarter of the Company's current fiscal year.


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