Deere Buys Battery Developer, Connectivity Platform

Deere & Co. has recently announced separate acquisitions.

The tractor maker will buy majority control of Kreisel Electric, an Austrian-based battery-technology provider, to further its effort to electrify agriculture and construction products.

Deere also has acquired AgriSync, a startup focusing on a mobile connectivity platform for farmers.

The Kreisel acquisition requires regulatory approval in Austria. Deere said it expects to close the deal in mid-February.

Kreisel Electric develops electric battery modules and packs and has a charging infrastructure platform that uses a patented battery technology.
Deere said the majority investment in the company will allow it to integrate vehicle and powertrain designs across a broad portfolio of products.

Deere said turf equipment, small tractors, and some road-building equipment could rely solely on batteries for power.

Kreisel Electric will retain its brand and continue to operate in Austria.

In the deal with AgriSync, the company announced it will sunset its brand and services and focus exclusively on ExpertConnect—the Deere-branded version of the product.

Non-Deere dealers using AgriSync will no longer have access. The transition will occur in the first half of 2022.

Deere has had a business relationship with AgriSync since 2018, and the two companies partnered to release the Deere-specific version of the platform in 2021.

In August, Deere agreed to buy Silicon Valley-based startup Bear Flag Robotics to accelerate the development of autonomous technology on farms.

Sources: AgWeb, MarketWatch