IN FURTHER consolidation of the farm data and software space, information and analytics group Proagrica have announced a definitive agreement to acquire precision agriculture specialist, SST Software.
Expected to be finalised this quarter, the purchase will be for 100 per cent of the company.
Proagrica is the agricultural division of the Relx Group, a global provider of data services, analytic tools and workflow solutions across multiple industries.
Relx Group employ over 28,000 employees in over 180 countries and reported revenue in 2015 exceeded $5.9 billion.
SST Software is a leading provider of precision agriculture software solutions based in the US, with a presence in Australia, Brazil and South Africa.
Software products include brands SST Summit, FarmRite and Sirrus.
Proagrica, managing director, Graeme McCracken said the purchase was an important commitment to development.
“We are delighted that our two businesses will come together to combine our solutions, customer focus and vision to deliver what I believe will be a unique solution that will provide insight into the fragmented agricultural supply chain,” he said.
“The combination of Proagrica’s key competencies of data connectivity and data analytics, and SST’s focus on the agriculture retail and agronomy services segment means we can better serve those who advise and sell to farmers.
“Agriculture has huge opportunities to benefit from sharing data.
“Proagrica has both the track record and technological expertise to facilitate this transformation acting as an independent broker, protecting and nurturing trust and demonstrating the gains to be had, throughout the supply chain.”
Mr McCracken said SST will continue to trade under the SST brands alongside Proagrica’s current product portfolio.
SST Software, chief executive officer, Matt Waits said he will continue to lead the organisation from its headquarters in Stillwater, Oklahoma.
“Today, farmers are collecting more data than ever,” he said.
“But the value of those data assets are not being fully realised due to the lack of digital compatibility in the market.
“Retailers, seed companies, pesticide manufacturers, and equipment companies all provide valuable services to growers.
“But growers cannot freely participate with these offerings due to data incompatibility.
“Proagrica represents a truly independent offering to the market that is focused on unlocking the value of data through seamless and trusted integration of the agricultural supply chain.
“Our two companies coming together will bring opportunities to all participants in agriculture and I am looking forward to working with the Proagrica team and our customers to bring this to reality.”
This story is still unfolding, so check back at www.farmonline.com.au for more news.
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