SYNGENTA BUYS AGRICULTURAL TECHNOLOGY FIRM CROPIO
ACQUISITION RESULTS IN SYNGENTA HAVING THE LEADING DIGITAL FARM MANAGEMENT POSITION, SAY SYNGENTA OFFICIALS
Syngenta has announced that it has completed the acquisition of all relevant assets of The Cropio Group, an agricultural technology company with a presence in over 50 countries focused mainly in Eastern Europe. The Cropio platform is an equipment-integrated, end-to-end software solution that provides imaging, recordkeeping, and equipment tracking, according to company officials.
Approximately 24.7105 million acres of crops worldwide are currently managed using Cropio.
“This acquisition marks a turning point in Syngenta’s digital strategy for agriculture,” said Greg Meyers, Syngenta’s chief information and digital officer in a news release. “Cropio is a leading player in the Eastern European digital agriculture market, and Syngenta is gaining a hub for ag tech innovation in Europe that will help increase farmer sustainability, productivity, efficiency and profitability. We anticipate significant opportunities for collaboration across the other Syngenta digital assets.”
“Cropio has done a really impressive job of building a product portfolio which brings tremendous value to growers,” said Dan Burdett, Syngenta’s head of global digital agriculture. “They have focused on the breadth of grower processes, while enabling data flow across field equipment and multiple digital tools. Cropio’s platform allows the farmer to monitor all their crops and field operations in order to maximize decision-making.”
Syngenta officials say this acquisition makes Syngenta the only agricultural company to have access to leading management platforms in the top four agriculture markets. They are in the:
* United States with Land.db
* Brazil with Strider
* China with the Modern Agricultural Platform
* Eastern Europe with Cropio
Combined, more than 98 million acres globally will be managed using a Syngenta digital tool, with a plan to double by the end of 2020, say Syngenta officials.
The financial terms of the transaction are not disclosed.