AGCO, a global manufacturer and distributor of agricultural machinery and precision agriculture technologies, announced Appareo Systems' acquisition, a market leader in software engineering, hardware development, and electronic manufacturing. The deal is scheduled to close in January 2022. AGCO plans to retain the Appareo team and its operations in Fargo, North Dakota, and Paris, France.
Appareo, headquartered in Fargo, North Dakota, focuses on researching, developing, designing, and manufacturing tangible technology that employs artificial intelligence, mechatronics, and innovative electronics to provide incredible customer value. Appareo's solutions are primarily focused on communication, monitoring, sensing, tracking, and controlling devices and systems utilized in the agricultural, aviation, and other off-road industries.
Appareo has developed a world-class organization with exceptional capabilities to solve highly complex customer problems in emerging technology areas. We see Appareo as a great addition to support in delivering high quality, smart solutions to our farmers to maximize their user experience and profitability. The addition of Appareo enhances our portfolio and talent as we execute our strategy to provide advanced technology solutions to farmers around the world. "
Eric Hansotia, AGCO’s Chairman, President, and Chief Executive Officer
* Forward-looking statements, such as expectations regarding the acquisition's closing and benefits, are subject to risks that actual outcomes may differ materially from those represented by the statements. These risks include failing to achieve closing conditions, developing the technology successfully, and gaining client approval. Accordingly, except as required by law, AGCO and Appareo Systems disclaim any duty to update any forward-looking information.