November 21, 2024

By Gerelyn Terzo, Global AgInvesting Media

With a new CEO who is pursuing growth, Fargo, North Dakota-based FarmQA has made a strategic acquisition. FarmQA, a software-as-a-service (SaaS) subscription company for agronomists, has acquired 100 percent of Farm Dog (aka FD Agro Technologies), a competing ag data platform, from North American soil-testing company Deveron Corp. FarmQA said the deal catapults it closer to its mission to transform global ag by improving supply chain efficiency, bolstering food security and raising the standard for agronomic intelligence in the agtech sector. The companies are keeping the size of the transaction close to the vest.

FarmQA helps agronomists, crop consultants and others in the ag industry to organize data as it relates to scouting fields and make recommendations on them. The company provides the framework and software for industry participants to streamline their operations and get the most out of each acre. The deal is a feather in the cap for FarmQA amid a challenging economic climate and tight capital markets.

FarmQA CEO Kris Poulson, who took the helm earlier this year, told GAI News, “There’s a lot of consolidation in the agtech market today, lots of companies not growing and ultimately disappearing. Then there are companies like us that are growing organically and augmenting that growth to also expand through acquisition, like what we are doing with Farm Dog.”

Demand for FarmQA’s solution is increasing, as since 2021, the company has grown its managed acreage from 2.7 million acres to over 30 million acres, owing in part to rising interest in data-powered agronomic services. With the highest density of those assets located in North America, FarmQA will expand its footprint in Canada and coastal U.S. regions through the acquisition. “Through digital agronomic services, our drive is to help professionals better each and every acre globally to feed and fuel an ever-growing global population,” Poulson said.

While Poulson only joined FarmQA in May, he is no stranger to the agtech sector, having founded and sold companies in the space previously. He shared how he has known Deveron CEO David MacMillan for a while, and when FarmQA learned of the company’s intentions to sell the Farm Dog platform, they were immediately interested. “We reached out to Deveron to figure out if there was an opportunity for us to acquire Farm Dog and give customers a nice, soft-landing spot while helping Deveron focus on their main business, which is soil labs and soil science.”

Deveron acquired Farm Dog in 2021. At that time, the digital platform boasted over 4,000 clients and 2 million acres, including a strategic contract with the U.S. Department of Agriculture that expires in 2025.

Deveron President and CEO David MacMillan stated, “FarmQA is uniquely positioned to fully leverage Farm Dog’s assets, extending its impact across the agricultural value chain. By entrusting these assets to FarmQA, we are confident they will enhance agronomic insights and deliver significant value to agribusinesses, while we remain focused on our core mission of advancing soil science and testing.”

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