AGCO - AGCO agrees to acquire Appareo Systems

Appareo Systems, LLC provides software engineering, hardware development, and electronic manufacturing. Appareo delivers communication, monitoring, sensing, tracking, and controlling devices and systems used in the agricultural and aviation and other off-road businesses. The commercial terms were not disclosed. Eric Hansotia, AGCO’s (NYSE:AGCO) Chairman, President and CEO: “We see Appareo as a great addition to support delivering high quality, smart solutions to our farmers to maximize both their user experience and profitability. The addition of Appareo enhances our portfolio and talent as we execute our strategy to provide advanced technology solutions to farmers around the world.” The Company intends to retain the Appareo team and maintain its operations in Fargo, North Dakota and Paris, France. The acquisition is expected to close in January 2022.

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AGCO agrees to acquire Appareo Systems