AGCO Corporation (NYSE:AGCO) and Appareo Systems announced today that they have agreed to enter a joint venture, building on the existing IAS (Intelligent Agricultural Solutions) business structure, to allow for breakthrough agricultural innovation. This collaboration will focus on the need for more advanced electronic technology centered around data collection, wireless communication, advanced sensors and intelligent machine control. The proposed joint venture will build on the momentum of Fuse™ Technologies, AGCO's next generation approach to precision agriculture and precision machine management. Appareo will contribute to the initiative through research and development, Intellectual Property (IP) generation and advanced technology concept development, which will be deployed through AGCO Technology Solutions.
"Appareo is very excited about forming this exciting new partnership with AGCO, the world's largest manufacturer focused strictly on agricultural equipment," said Barry Batcheller, Appareo Chairman and CEO. "The unique contributions that each partner brings to this business will enable the unprecedented infusion of new to the world technologies into production agriculture."For more information about Fuse Technologies and AGCO's new connected strategy, visit www.agcotechnologies.com. Visit www.appareo.com to learn more about Appareo's developments in agriculture. ABOUT AGCO AGCO (NYSE: AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery. AGCO supports more productive farming through a full line of tractors, combines, hay tools, sprayers, forage equipment, grain storage and protein production systems, tillage implements and replacement parts. AGCO products are sold through five core machinery brands, Challenger ®, Fendt ®, GSI ®, Massey Ferguson ® and Valtra ® and are distributed globally through approximately 3,100 independent dealers and distributors in more than 140 countries worldwide. Founded in 1990, AGCO is headquartered in Duluth, Ga., USA. In 2013, AGCO had net sales of $10.8 billion. www.AGCOcorp.com ABOUT APPAREO SYSTEMS Appareo Systems, LLC is a recognized leader in the custom design, development and manufacture of innovative electronic and software solutions for aerospace and agriculture original equipment manufacturers. Through the creative application of cutting-edge technologies, Appareo creates complex end-to-end solutions that include both mobile and cloud-based components. Appareo also provides advanced research services for electro-optic, electromechancial, kinematic and MEMS-based sensors. The company is privately held, with world headquarters located in Fargo, ND at the North Dakota State University Research and Development Park. Learn more at www.appareo.com.