Deere: buys machine learning firm Blue River Technology.
(CercleFinance.com) - Deere has signed a definitive agreement to acquire Sunnyvale-based Blue River Technology, a firm that specialises in applying machine learning to agriculture.
Deere said it will invest 305 million dollars to buy the 60-person business, which will remain in California, aiming to continue with its rapid growth.
The farm equipment maker thinks that the investment in Blue River is similar to its acquisition of NavCom in 1999, which gave Deere a leading position in the use of GPS technology for agriculture.
"Machine learning is an important capability for Deere's future," the company said.
The transaction is expected to close in September.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Deere said it will invest 305 million dollars to buy the 60-person business, which will remain in California, aiming to continue with its rapid growth.
The farm equipment maker thinks that the investment in Blue River is similar to its acquisition of NavCom in 1999, which gave Deere a leading position in the use of GPS technology for agriculture.
"Machine learning is an important capability for Deere's future," the company said.
The transaction is expected to close in September.
Copyright (c) 2017 CercleFinance.com. All rights reserved.