Deere Buys Autonomous Technology Startup Bear Flag Robotics for $250 Million
August 05 2021 - 1:37PM
Dow Jones News
By Robb M. Stewart
Deere & Co. has agreed to buy a Silicon Valley-based startup
for $250 million in a bid to accelerate the development of
autonomous technology on farms.
The agriculture-equipment company said Thursday it signed a
definitive agreement to buy Bear Flag Robotics, a company founded
in 2017 to develop autonomous driving technology that is compatible
with existing machines.
The move is in line with John Deere's long-term strategy to
create smarter machines with advanced technology, the company
said.
"Deere views autonomy as an important step forward in enabling
farmers to leverage their resources strategically to feed the world
and create more sustainable and profitable operations," said Jahmy
Hindman, chief technology officer at John Deere.
Deere said it first started working with Bear Flag in 2019 as
part of its startup collaborator program, and since then Bear Flag
has deployed its autonomous solution on a limited number of farms
and tractors in the U.S.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
August 05, 2021 13:28 ET (17:28 GMT)
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