John Deere acquires farm management software company Harvest Profit
Forecasting and measuring profitability on a field-by-field basis have never been more important than they are today. Tools like Harvest Profit, a farm management software, are helping farmers analyze their data and better understand the financial outcomes of their decisions. Founded in 2015, the Fargo, North Dakota company was recently acquired by John Deere.
“Harvest Profit software helps farmers forecast and measure profitability on a field-by-field basis,” says Lane Arthur, vice president, data, application, and analytics at John Deere. “This software will provide John Deere customers with a forward-looking financial lens, better visibility into their farms’ profitability, and insights to help them make the best possible decisions managing their operations.”
The current software will continue to be available through the John Deere Operations Center. The acquisition ensures current and prospective John Deere customers will have access to Harvest Profit’s analytical capability and provides them with continuity moving forward.
Arthur says the acquisition also builds on John Deere’s goal of providing cutting-edge technology solutions that empower its customers to make more informed decisions. “This software provides financial visibility for the customers of their operations enabling confident and proactive management decisions that make them more profitable and sustainable.”
Harvest Profit will retain its brand name. The terms of the financial agreement were not disclosed.