Agreement in Place to Acquire Spensa Technologies
(Image courtesy of Spensa Technologies.)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowMinneapolis-based business intelligence company DTN has announced an agreement to acquire a high-profile Indiana precision agricultural technology business. The deal for West Lafayette-based Spensa Technologies Inc. still needs approval from its shareholders and the companies are not announcing financial terms.
Spensa was launched in 2009 at the Purdue Research Park. A year ago, it inked an agreement with Linden-based non-GMO seed company Spectrum Seed that paved the way for wider access to Spensa’s Z-Trap pest system throughout the Corn Belt. The technology provides data on insects, weeds, disease and other metrics remotely to farmers.
DTN Co-Chief Executive Officer Sheryl von Blucher says "the acquisition of Spensa will immediately bolster DTN competency in agricultural predictive modeling, business intelligence reporting, and software UX/UI with a strong mobile presence. Spensa’s Agronomic Platform will enhance DTN’s agribusiness offerings to digitize agronomic information for key actionable insights. Additionally, this platform currently promotes collaboration between DTN’s key target markets, Producers and Agribusiness."
Spensa CEO Johnny Park says his company has admired DTN for many years. "We could not have found another company that more closely shares our vision. Together, we will be able to feed, protect and fuel the world in ways we would not have been able to by ourselves," he said. DTN says, if the acquisition is completed, the partnership would allow it to expand into "non-core markets" including California fruit and tree growers.