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AGCO Agrees To Acquire Product Development Firm 151 Research

Focus on Developing Grain Technology to Improve Customers’ Operations
 
DULUTH, GA, – 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.
Source : agcocorp