According to a March 26 announcement, Syngenta has entered into a binding agreement to acquire Strider, a Brazilian agricultural technology company focused on operational management solutions for farms. Completion of the transaction is subject to clearance by the relevant merger control authorities. Financial terms of the transaction were not disclosed. Strider is an important player in the Latin American digital agriculture market, and the transaction will enhance Syngenta’s ability to bring greater value to customers by providing innovative digital solutions for the management of on-farm information, the announcement said. Strider expanded into the U.S. in May 2016. Started in 2013, Strider was consolidated in the agricultural technology business as a platform for the operational control over rural properties and today is already a leader in agricultural technology. From monitoring machinery and pest control to satellite imaging of crops, the technologies help producers save costs, increase productivity and better manage processes and people.
Swiss-based agribusiness Syngenta has agreed to acquire Brazilian agritech firm Strider for an undisclosed sum. The deal broadens Syngenta's ability to supply digital solutions to customers, while Strider, a big player in Latin America that also expanded into the US two years ago, has developed technologies including satellite imaging of crops and pest control.