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BUSHEL ACQUIRES FARM MANAGEMENT SOFTWARE PROVIDER FARMLOGS
Bushel reports:

Fargo, ND - Bushel, an independently-owned software technology company for growers, grain buyers, ag retailers, protein producers and food companies, today announced its acquisition of FarmLogs, a leading provider of technology farm management systems for row crop farms. The addition of FarmLogs' technology and team to Bushel creates a stronger digital connection between growers, commodity buyers, ag retailers and consumer packaged goods companies (CPGs).

The connected grain digital infrastructure and on-farm management across tens of thousands of growers and 40% of grain origination in the U.S. will enable seamless commerce across the ag supply chain. The acquisition complements Bushel's strategic focus to enable, not disrupt, the agriculture industry and lead it into the digital age with strategies that solve real pain points and provide value for all stakeholders in the ag and food value chain.

"FarmLogs is a pioneer in bringing approachable user experiences to the farm," said Jake Joraanstad, CEO and Co-founder of Bushel. "By bringing capabilities of FarmLogs to Bushel's platform, we elevate the digital relationship across the grain supply chain. We're two independent companies committed to being agnostic of specific agribusiness products and services that may impact how we can best support the food supply chain with secure, permissioned data transparency and future stewardship and fintech offerings."

The acquisition will eliminate significant amounts of manual data entry into the FarmLogs' platform. Bushel can help grain facilities instantly share digital scale tickets and cash bid information with their producers, while also giving their producers greater control over who they want to share their personal data with.

Over time, FarmLogs data can be automatically attached to the grain data within Bushel's platform as grain moves off the farm. For the first time, this "grain passport" will ease enrollment and automate verification of programs such as identity preservation, crop insurance and sustainability.

"As we look to the future of innovation in agriculture, one thing is very clear: automatically gathering data and enabling properly-permissioned connections can make farmers more productive," said Jesse Vollmar, Co-founder of FarmLogs and VP of Farm Strategy at Bushel. "We believe that by seamlessly building FarmLogs user experience on top of the Bushel platform, and into the Bushel ecosystem, can bring value to growers and their value chain partners that they can't find anywhere else."

The acquisition facilitates several of Bushel's key strategic imperatives, including:

Connecting Field to Truck With Enhanced Data Owner's Security: By aligning two independent software companies with meaningful following, Bushel sets a standard of data connectivity throughout the grain supply chain while preserving data owners' control through proper-permissioning and security controls.

Strengthen Ag's Digital Infrastructure: Standardize and connect data in the 'siloed middle' of the food and agriculture supply chain to save businesses significant manual effort, time and expense. This will strengthen the relationships between growers and agribusinesses through secure, proven and easy to use software products and services.

Facilitate a Sustainable Future: Expand sustainability opportunities for both growers and grain facilities through verified on-farm practices from field to CPGs, and eventually the end consumer.

As part of Bushel, FarmLogs will be positioned to accelerate and extend its mission to build software that creates a better future for farms. FarmLogs will continue to operate under the FarmLogs brand. Bushel is exploring new models for customer engagement. All FarmLogs employees will join the Bushel team.


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