Land O'Lakes, Inc. announced its acquisition of Geosys, a global technology firm that provides satellite imaging and insights to agribusiness.
The acquisition caps a multi-year relationship between Geosys and Land O'Lakes through its WinField division, which utilizes select Geosys technologies in the United States.
"This acquisition further cements Land O'Lakes' position as a leader in agribusiness. We are developing tomorrow's agricultural technology today, and this acquisition fits that strategic drive," said Land O'Lakes President and CEO Chris Policinski. "Today's purchase demonstrates Land O'Lakes' leadership in helping to build the farm of the future with cutting-edge concepts and technologies. These industry-leading technologies give farmers the tools to make critical decisions to improve yields while reducing their environmental footprint and further help our member cooperatives to leverage proven tools that turn data into decision enablers that drive productivity and sustainable agricultural practices."
Geosys, which has more than 50 employees in multiple countries, has sought a strategic partner for accelerated growth, said Damien Lepoutre, president of Geosys.
"We are excited to align our business with Land O'Lakes because of the cooperative's outstanding reputation in the industry, their understanding of the critical need for cutting-edge technology in agronomy and our excellent relationship," said Lepoutre, who will remain president of Geosys. "We know the combination of Land O'Lakes' expertise in agriculture and Geosys' expertise in technology have proven results, and we know this combination will position both companies to continue to be leaders in precision agriculture."
Land O'Lakes, Inc., owns Winfield Solutions, LLC, a leading distributor of crop protection products, agricultural seed and agricultural technology to drive productivity through sustainable practices.
WinField will remain a key customer of Geosys. Geosys will continue to develop its customer base and continue its expansion into the U.S. and international agricultural markets. Precision agriculture allows farmers to use data-driven insights to achieve optimized yields by combining technology, data and agronomic science. This approach enables farmers to customize inputs, rather than a one-size-fits all approach to crop management. WinField's R7® Tool, which utilizes Geosys technology, is a leading precision agricultural tool in the industry.