Deere Acquires Bear Flag Robotics For $250M

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  • Deere & Company DE has agreed to acquire Silicon Valley-based startup Bear Flag Robotics for $250 million.
  • Founded in 2017, Bear Flag Robotics develops autonomous driving technology compatible with existing machines.
  • The acquisition supports John Deere's long-term strategy to create machines with advanced technology to support individual customer needs.
  • Deere first started working with Bear Flag in 2019 as part of the Startup Collaborator program. Since then, Bear Flag has successfully deployed its autonomous solution on a limited number of farms in the U.S.
  • Deere held cash and cash equivalents of $7.9 billion as of May 2, 2021.
  • Price Action: DE shares are trading higher by 1.11% at $364.66 on the last check Thursday.
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