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BASF Set to Acquire ZedX
In an effort to strengthen its digital farming footprint, BASF has signed an agreement to acquire ZedX, Inc. Based in Bellefonte, Pennsylvania, ZedX develops agronomic weather, crop, and pest models that translate data into insights to improve agricultural production.
“Growers are embracing cutting-edge technology and tools that can help them increase crop yields,” says Scott Kay, vice president, crop protection, BASF North America. “ZedX’s innovative platforms and strong intelligence capabilities will not only enhance our current digital services but they’ll also provide growers with critical data to successfully manage their operations.”
Through this acquisition, BASF is working to ensure that agronomic insights and recommendations from digital solutions help its customers make more informed decisions.
“BASF is playing an active role in the digital transformation of agriculture and is constantly evaluating where and how to engage further,” says Jürgen Huff, senior vice president, global strategic marketing of BASF’s crop protection division. “ZedX’s experts impressed us with their extensive and deep know-how in agronomic models. We are very pleased to incorporate their knowledge into our offers to serve farmers’ needs through innovative products and services.”
Through a three-year partnership, points out Joe Russo, the two companies have already seen great results. “Our modeling expertise, coupled with BASF’s knowledge of chemistry, has truly benefited growers and agriculture in general,” says the ZedX founder and president. “For example, we developed a model that gave the right window of application for a BASF herbicide based on important weather and environmental conditions.”
Factors like weather, soil temperature, and wind speed can affect the performance of crop protection products. By acquiring ZedX, BASF will be able to help farmers use resources more efficiently and sustainably. In addition, it will complement BASF’s Maglis, which launched in 2016.
“The smart use of digital solutions can open up all sectors of the economy to many new opportunities, and farming is no exception. ZedX is a great fit to our growth plan. We will strengthen our sales by offering targeted advice, insights, and recommendations and by interacting more closely with our customers,” concludes Huff.
The deal is expected to be final by the end of May 2016. Financial details were not disclosed.