Land O’Lakes sells Geosys to UrtheCast for $20m

By Beth Newhart contact

- Last updated on GMT

The deal could bring “unprecedented value to agribusinesses worldwide."
The deal could bring “unprecedented value to agribusinesses worldwide."

Related tags: Butter, Mergers and acquisitions, Land o’lakes

Minnesota-based Land O’Lakes has agreed to a deal with geo-analytics company UrtheCast for the $20m sale of agriculture software company Geosys.

Geosys is a wholly owned subsidiary of Land O’Lakes and is a global digital agriculture company that provides clients with data, analysis and insights that help with risk management and precision farming support.

It is being sold to Vancouver-based UrtheCast, a corporation that serves the geospatial and geo-analytics markets by distributing imagery data from their two earth observation satellites.

Land O’Lakes believes the deal will bring “unprecedented value to agribusinesses worldwide through the enhanced relationship between imagery data and geoanalytical solutions.”

UrtheCast will own Geosys' software for accessing, processing, cataloging and retrieving of images. Land O'Lakes will still own all intellectual property connected to its R7 Tool and farm-gate applications.

Beth Ford, president and CEO of Land O'Lakes, said, "At Land O'Lakes, we are constantly looking for the best ways to provide long-term support to our member-owners and our customers. This transaction will enhance our proprietary R7 Tool's ability to identify the right places for farmers to make incremental in-season input investments to drive yields and profitability – in real time."

The first closing of the deal is expected for November 6, 2018 with the full transaction to be completed in over the next two years.

Donald Osborne, CEO of UrtheCast, said, "This important acquisition would bring together the best-in-class imagery capabilities of UrtheCast with the proven geoanalytics power and deep agribusiness industry relationships of Geosys. By unifying these companies, UrtheCast will be well positioned as the leader in fully integrated geoanalytics solutions for the agribusiness industry.”

Related news


Post your comment

We will not publish your email address on the website

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.