ARDEN HILLS, Minn., Dec. 4, 2013 /PRNewswire/ -- Land O'Lakes, Inc. today 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.
Land O'Lakes, Inc., one of America's premier agribusiness and food companies, is a member-owned cooperative with industry-leading operations that span the spectrum from farm production to consumer foods. With 2012 annual sales of more than $14 billion, Land O'Lakes is one of the nation's largest cooperatives, ranking 194 on the Fortune 500. Building on a legacy of more than 92 years of operation, Land O'Lakes today operates some of the most respected brands in agribusiness and food production including LAND O LAKES® Dairy Foods, Purina Animal Nutrition and WinField. The company does business in all 50 states and more than 60 countries. Land O'Lakes International Development is a division of the company helping to transform lives through agriculture and enterprise partnerships that are enhancing profitability and food security in developing countries around the world. Since 1981, this division has helped generate economic growth and improve the quality of life for millions of people through more than 275 projects in 76 developing nations. Land O'Lakes, Inc. corporate headquarters are located in Arden Hills, MN.
GEOSYS combines the most advanced agronomic research with information technologies like GIS and remote sensing to provide the most complete picture for crop production. With more than 25 years in business and projects in more than 50 countries, GEOSYS is the world leader for agricultural information and decision support tools based on remote sensing. GEOSYS has offices in Europe (Toulouse, France), North America (Minneapolis, Minnesota), Australia (Sydney, New South Wales), and in South America (Sao Paulo, Brazil).
SOURCE Land O'Lakes, Inc.