AGCO Corp. (AGCO) Acquires Faromatics

AGCO (NYSE: AGCO), a worldwide manufacturer and distributor of agricultural machinery and precision ag technology, announced that it has acquired Farm Robotics and Automation S.L. (“Faromatics”), a precision livestock farming company.

Faromatics is the creator of ChickenBoy, the world's first ceiling-suspended robot that monitors broiler chickens and helps farmers increase animal welfare and farm productivity. ChickenBoy uses a complete set of sensors to measure thermal sensation, air quality, light and sound. It also uses artificial intelligence (AI) to identify risks to health, welfare and farm equipment.

“This Faromatics acquisition supports our vision of being farmers’ most trusted partner for industry-leading, smart farming solutions across every area of our business,” said Eric Hansotia, AGCO’s Chairman, President and Chief Executive Officer. “We’re excited to create smart technology solutions for livestock producers, strengthen our existing capabilities, and accelerate innovation that helps our customers increase profitability while improving animal welfare.”

“We have now reached a moment where the combination of great technology with global market reach has the potential to make a lasting impact on animal welfare and farm productivity,” said Dr. Heiner Lehr, CEO of Faromatics. “We are very excited to be joining the AGCO team.”

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