Builds on Bold Strategy to Deliver Autonomous Solutions for Agriculture
Source: Raven Industries
SIOUX FALLS, S.D. (Nov. 01, 2019) — Raven Industries, Inc. (the Company; NASDAQ:RAVN) announced today that it has acquired Smart Ag Inc., a technology company that develops autonomous farming solutions for agriculture. This acquisition is part of Raven Autonomy™, the Company’s strategic growth platform to become the industry leader in autonomous agriculture solutions, announced earlier this week. Complementing the Company’s Applied Technology division, a leading technology provider in the precision agriculture industry, this acquisition will be integrated into the division’s business and technology portfolio with the intent to create autonomous solutions for the precision ag market.
“The acquisition of Smart Ag is part of a bold, company-wide strategy for Raven,” commented Dan Rykhus, Raven Industries President and CEO. “It is a key investment in Raven Autonomy™, one of our two strategic growth platforms. Autonomy in agriculture is the future of farming, and this acquisition, coupled with our existing precision agriculture solutions, solidifies our position as a technology leader within this market.”