AGI acquires remaining stock in Farmobile

By MARGY ECKELKAMP

On April 16, AGI announced it has acquired the remaining stake of Farmobile that was left after its initial $15 million investment in 2019.

Tim Close, President & CEO of AGI said in the announcement: "Farmobile is a fantastic addition to the AGI SureTrack platform and brings the market leading, two-way, field data management device along with a robust platform for data standardization and management."

When the AGI iniatially invested in Farmobile, the company said it was eyeing how its technology and product fit into the company’s SureTrack strategy.

Close also said upon this acquisition, “Jason Tatge, Farmobile co-founder and CEO, and the Farmobile team have built the absolute best products in this space and we are excited to welcome them to the AGI team. This acquisition builds on our robust IoT product portfolio and moves AGI into the middle of the data verification space required by the rapidly developing carbon and traceability markets. The Farmobile PUC enables the real-time automation and standardization of critical data collection from virtually any piece of equipment used in the field. This strengthens our unique ability to capture machine and agronomic data across the entire farming process – from seeding through to harvest and into the broader grain supply chain.”

Farmobile was founded in 2013.

Close’s final part of the statement included: “The opportunity to formally bring this technology in-house, along with the significant capabilities and know-how of the Farmobile team, is a big step for AGI to continue to rapidly advance our SureTrack platform. We continue to anticipate strong double-digit growth in our Technology business segment in 2021 and beyond."