Increases engineering and manufacturing capabilities as well as capacity in software development and related hardware to deliver end-to-end enhanced technology solutions
DULUTH, Ga.--(BUSINESS WIRE)--Dec. 21, 2021--
AGCO, Your Agriculture Company,(NYSE:AGCO), a worldwide manufacturer and distributor of agricultural machinery and precision ag technology, announced an agreement to acquire
Appareo Systems, LLC(“Appareo”), a leader in software engineering, hardware development and electronic manufacturing. The acquisition is expected to close in
January 2022.
Appareo, based in
Fargo, North Dakota, specializes in the research, development, design, and manufacture of tangible technology that utilizes A.I., mechatronics, and innovative electronics designed to deliver exceptional customer value. The solutions
Appareohas delivered are focused on communication, monitoring, sensing, tracking and controlling devices and systems used in the agricultural and aviation industries as well as other off-road businesses.
"
Appareohas developed a world-class organization with exceptional capabilities to solve highly complex customer problems in emerging technology areas,” said
Eric Hansotia, AGCO’s Chairman, President and Chief Executive Officer. “We see
Appareoas a great addition to support delivering high quality, smart solutions to our farmers to maximize both their user experience and profitability. The addition of
Appareo增强我们的投资组合和人才或者执行r strategy to provide advanced technology solutions to farmers around the world.”
AGCO intends to retain the
Appareoteam and maintain its operations in
Fargo, North Dakotaand
Paris, France.
Cautionary Statements Regarding Forward-Looking Information
Statements which are not historical facts, including expectations regarding the closing of the acquisition and its benefits, are forward-looking and subject to risks that could cause actual results to differ materially from those suggested by the statements. These risks include, but are not limited to, the failure to satisfy closing conditions, the possible lack of success in developing the technology, and the lack of customer acceptance of the technology. Undue reliance should not be placed on these forward-looking statements, which are current as of the date of this release, and AGCO and
Appareo Systemsdisclaim any obligation to update any forward-looking statements except as required by law.
About AGCO:
AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers customer value through its differentiated brand portfolio including core brands like Challenger, Fendt, GSI,
Massey Fergusonand Valtra. Powered by Fuse®smart farming solutions, AGCO’s full line of equipment and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in
Duluth, Georgia, USA, AGCO had net sales of approximately
$9.1 billionin 2020. For more information, visitwww.AGCOcorp.com. For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.
Please visit our website atwww.namstec.com
About
Appareo:
Founded in 2003,
Appareois a premier provider of custom electronics and software design for off-highway and airborne equipment.
Appareoworks with original equipment manufacturers to deliver the desired technologies affordably and effectively when no off-the-shelf capabilities are available. Additionally, through the Intelligent Ag, Galeo, and Stratus brands,
Appareodelivers aftermarket electronic and software solutions for agricultural, aviation, and offroad customers.
Appareois based in
Fargo, North Dakotawith an additional design office in
Paris, France. All products are built and supported in the
USA. For more information, visitAppareo.com, and follow us on Twitter: @Appareo_.
View source version onbusinesswire.com:https://www.businesswire.com/news/home/20211221005609/en/
Greg Peterson
Vice President, Investor Relations
(770) 232-8229
greg.peterson@agcocorp.com
Source: AGCO