Raven Industries, Inc. (NASDAQ:RAVN), a leader in precision agriculture, high performance specialty films, and situational awareness markets, acquired Smart Ag Inc., an Ames, Ia.-based technology company that develops autonomous farming solutions for agriculture.
The amount of the deal was not disclosed. As part of Raven Autonomy, the company plans to deliver autonomous solutions for agriculture for OEM partners and ag retailers.
The acquisition is part of Raven Autonomy™, the company’s strategic growth platform, which aims to become the industry leader in autonomous agriculture solutions.
Complementing the company’s Applied Technology division, a technology provider in the precision agriculture industry, this acquisition will be integrated into the division’s business and technology portfolio with plans to create autonomous solutions for the precision ag market.
Smart Ag is offering aftermarket retrofit kits to automate farm equipment as well as a platform to connect, manage and safely operate autonomous agricultural machinery.