DULUTH, GA, September 11, 2020 – AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and solutions, announced an agreement to acquire research and product development firm 151 Research to create new technology solutions for grain customers.
AGCO and 151 Research previously had an exclusive technology partnership to develop GSI GrainViz precision grain monitoring, which gives growers and commercial operators advanced insight into the moisture content of the grain in their steel storage bins. This acquisition will allow AGCO to continue development of GrainViz and expand into new solutions.
“Our grain customers are facing significant challenges due to difficulty finding labor, low commodity prices and tight margins. We need the sharpest minds working on finding answers to these challenges, and we believe this acquisition will help improve our customers’ operations through smarter technology,” said Stefan Caspari, AGCO Senior Vice President, General Manager, Grain and Protein. “We are excited about the continued development of GrainViz and look forward to creating a connected experience across the entire grain system to increase efficiency and profitability for our customers.”
“Our team’s goal at 151 Research has always been to solve problems by helping customers gain actionable insights to improve their business," said Paul Card, Chief Executive Officer, 151 Research. “GrainViz allows users to see the moisture content throughout the entire grain mass to proactively manage the quality and quantity of their stored grain. We are pleased AGCO recognized the benefits this game-changing technology can bring to customers and shares our passion for finding smarter answers to the industry’s biggest challenges.”
AGCO intends to retain the firm’s 45 current employees and to maintain the Winnipeg office as the smart grain technology center of excellence. The team is completing an initial release of GrainViz in a limited number of bins this fall. A broader launch is planned prior to the 2021 harvest.
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Press contact
Jon Peterson
Sr. Manager, Global Branding and Communication, Grain and Protein
Jon.Peterson@AGCOCorp.com
Investor Contact
Greg Peterson
Vice President, Investor Relations
Greg.Peterson@AGCOCorp.com
About AGCO
AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural solutions and delivers high-tech solutions for farmers feeding the world through its full line of equipment and related services. AGCO products are sold through five core brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported by Fuse® smart farming solutions. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of $9 billion in 2019. For more information, visit http://www.AGCOcorp.com. For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.
About 151 Research
151 Research develops intelligent security, remote monitoring and management, and advanced imaging solutions to help customers gain actionable business insights. In partnership with the University of Manitoba’s Electronic Imaging Lab and other academic partners, 151 Research is solving problems for retail, the medical field, information security and agriculture. To learn more visit www.151Research.com.