Raven has announced it will acquire a majority ownership of DOT Technology Corporation, in a transaction expected to close in November 2019. The company says the investment will go to “support the continued commercialization and evolution of the Dot Power Platform and Dot Ready Implements.”
“As a company, we launched the Dot Platform to change farming. Raven has been a critical partner in helping to get Dot to where we are today,” Norbert Beaujot, Owner and Founder of DOT Technology Corp and SeedMaster Manufacturing Ltd., said in a news release. “Our combined technologies will undoubtedly help accelerate speed to market and adoption of machine autonomation.”
The DOT power platform is a U-shaped, diesel-powered, hydraulically driven platform designed to be equipped with seeding implements as well as others designed to be “DOT-Ready”. In 2019, the company continued its full-scale testing on farms in a close radius of Regina, Saskatchewan.
Since 2018, Raven and DOT have been working together when it was announced Raven steering, guidance and propulsion would be used on the DOT prototypes.
“Over the last year and a half of collaborating with DOT, Raven has come to understand the value and uniqueness of the Dot platform,” Dan Rykhus, President and Chief Executive Officer of Raven Industries said in a news release. “We are furthering our investment in and ownership of this unique, disruptive technology. By investing in DOT’s growth, we believe we have the ability to lead in the next revolution of production agriculture.”
Robert Saik will be the CEO of DOT Technology Corp.