UK agtech deal made
In a move set to transform the future of digital agriculture, United Kingdom-based Wheatsheaf Group, a leading global investor in and developer of agricultural technology businesses, has completed a $14 million transaction for a minority stake in AgriWebb, Australia’s market leader in livestock farm management software.
The deal includes AgriWebb’s acquisition of the UK-based livestock and dairy software FarmWizard from Wheatsheaf.
With the FarmWizard acquisition, AgriWebb is positioned to develop a more advanced farm management product suite that will consolidate FarmWizard’s dairy and individual animal management functionality with AgriWebb’s existing cloud-based livestock herd management software.
With the digitisation of agriculture on the rise, this product combination will provide the first-of-its-kind solution for the ongoing needs of livestock producers and supply chain enterprises, enhancing AgriWebb’s ability to help the sector become more efficient, competitive and productive.
‘‘We are extremely excited at the opportunity this deal presents for AgriWebb, and for the global future of digital agricultural management,’’ AgriWebb chief executive officer and co-founder Kevin Baum said.
‘‘Like AgriWebb, Wheatsheaf is committed to making a positive impact on the challenges faced globally in food production and the efficient use of natural resources.
‘‘The AgriWebb team are proud that Wheatsheaf has recognised our expertise and potential in this field, and are committed to investing in Australian farmers.’’
We are extremely excited at the opportunity this deal presents . . . and for the global future of digital agricultural management AgriWebb CEO Kevin Baum