AGCO Agrees to Acquire Appareo Systems
21 Décembre 2021 - 11:00PM
Business Wire
Increases engineering and manufacturing capabilities as well as
capacity in software development and related hardware to deliver
end-to-end enhanced technology solutions
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 Appareo has 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.
"Appareo has 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 Appareo as 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 enhances our portfolio and talent as we
execute our strategy to provide advanced technology solutions to
farmers around the world.”
AGCO intends to retain the Appareo team and maintain its
operations in Fargo, North Dakota and 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 Systems disclaim 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 Ferguson and 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 billion in 2020. For more information, visit
www.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 at
www.agcocorp.com
About Appareo: Founded in 2003, Appareo is a premier
provider of custom electronics and software design for off-highway
and airborne equipment. Appareo works 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, Appareo delivers aftermarket electronic and software
solutions for agricultural, aviation, and offroad customers.
Appareo is based in Fargo, North Dakota with an additional design
office in Paris, France. All products are built and supported in
the USA. For more information, visit Appareo.com, and follow us on
Twitter: @Appareo_.
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version on businesswire.com: https://www.businesswire.com/news/home/20211221005609/en/
Greg Peterson Vice President, Investor Relations (770) 232-8229
greg.peterson@agcocorp.com
AGCO (NYSE:AGCO)
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