Skip to main content

Market Overview

AGCO Acquires Faromatics For Undisclosed Sum

Share:
AGCO Acquires Faromatics For Undisclosed Sum
  • AGCO Corp (NYSE: AGCOhas acquired Farm Robotics and Automation S.L. (Faromatics), a precision livestock farming company, for undisclosed financial terms.
  • Faromatics is the creator of ChickenBoy, a ceiling-suspended robot that monitors broiler chickens and helps farmers increase animal welfare and farm productivity. It also uses artificial intelligence (AI) to identify health, welfare, and farm equipment risks.
  • AGCO held cash and cash equivalents of $500.2 million as of June 30, 2021.
  • "This Faromatics acquisition supports our vision of being farmers' most trusted partner for industry-leading, smart farming solutions across every area of our business," said Eric Hansotia, AGCO's Chairman, President, and CEO.
  • Price Action: AGCO shares are trading lower by 0.27% at $127.67 on the last check Monday.
 

Related Articles (AGCO)

View Comments and Join the Discussion!

Posted-In: BriefsM&A News

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com