Oslo, 6 November 2017: Yara International ASA completed the acquisition of Agronomic Technology Corp (ATC), which operates Adapt-N, a leading nitrogen recommendation platform in the US that improves farmer profitability and agricultural sustainability.
In line with Yara's strategy to accelerate its investments in digital farming, Yara completed the acquisition of ATC, which offers farmers and advisors solutions such as Adapt-N and N-Insight to optimize fertilizer use on individual field zones. Combining scientific multi-variable modelling of crops, weather, and field data, ATC's solutions enable online diagnostic and simulation of farmers' choices to maximize yield, input cost efficiency, and the sustainability of farming. "ATC will help us implement our farmer-centric strategy and is an important building block in expanding our position in Digital Farming," said Terje Knutsen, Executive Vice President, Crop Nutrition, Yara. "It is another important contribution to our mission to responsibly feed the world and protect the planet," Knutsen continues. The scientific focus and experience of the ATC team will further strengthen Yara's position as the leading crop nutrition provider. "We are impressed with the accuracy and quality of Adapt-N's recommendations compared to other products in the market, and are excited about the opportunities that arise from combining the highly complementary digital solutions of the two companies", said Stefan Fürnsinn, Senior Vice President, Digital Farming, Yara. ATC combines an experienced cross-functional team of agronomists, modellers, software developers and entrepreneurs. The company's Adapt-N solution builds on decades of research initiated by Cornell University and involving dozens of leading partner organizations, resulting in broad scientific validation. The company, which is based in both New York and Silicon Valley, already has a strong commercial position in corn in the US, and is expanding to other crops and geographies, which will now be significantly accelerated together with Yara's global footprint and knowledge. "Our team is excited about Yara's digital solutions and the company's genuine commitment to helping farmers improve their financial and environmental performance. Joining our advanced technology and data-driven capabilities with a leading crop nutrition company like Yara provides a tremendous opportunity to scale globally, innovate across a wider product portfolio and crop base, and maintain focus on the success and sustainability of all farmers and those who serve them," said Steve Sibulkin, CEO, ATC. Contacts Stefan Fürnsinn , SVP Digital Farming, Yara Tel.: +49 160 97951531 E-mail: stefan.fuernsinn@yara.com Steve Sibulkin, CEO, ATC Tel.: +1 866 208 3276 E-mail: steve@agronomic.com
Kristin Nordal, Media Relations, Yara Tel.: +47 900 15 550 E-mail: kristin.nordal@yara.com About Yara Yara's knowledge, products and solutions grow farmers', distributors' and industrial customers' businesses profitably and responsibly, while protecting the earth's resources, food and environment. Our fertilizers, crop nutrition programs and technologies increase yields, improve product quality and reduce the environmental impact of agricultural practices. Our industrial and environmental solutions improve air quality by reducing emissions from industry and transportation, and serve as key ingredients in the production of a wide range of goods. We foster a culture that promotes the safety of our employees, contractors and societies. Founded in 1905 to solve emerging famine in Europe, today Yara has a worldwide presence, with close to 15,000 employees and sales to about 160 countries. www.yara.com About Agronomic Technology Corp
Agronomic Technology Corp provides a recommendation platform to help tackle key challenges in agriculture. The company leverages the power of cloud technology, proven science, and data to deliver large-scale, field-specific solutions that break the tradeoff between financial and environmental performance. Adapt-N, the leading independent nitrogen management solution, has been operated by ATC since the company's founding in 2013. www.adapt-n.com
Attachments:A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/Attachm...18ffd3e766
Attachments:A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/Attachm...5c592ca0f8
Attachments:A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/Attachm...733a10c46c
Attachments:A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/Attachm...d84af707df
