Raven Industries expands its market share in precision ag technology through the acquisition of DOT Technology Corp.
Raven Industries announced that it has entered into agreements to acquire the remaining equity of DOT Technology Corp. DOT is the developer of the ”Dot Power Platform,” an autonomous power unit that has the ability to pair with a wide range of implements which are critical to agricultural production and will offer a variety of labor saving solutions to farmers and Ag Retailers alike.
Fusing DOT, and the recently acquired Smart Ag autonomous perception and path planning technology, with Raven’s technology platforms in guidance, steering, and machine control is to enable Raven to deliver revolutionary autonomous solutions and accelerate its long-term growth in Applied Technology.
The company is currently moving forward with commercialisation of Raven Autonomy and will be expanding its portfolio with new offerings, which is to increase the value of autonomy to end-users at a rapid pace.
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“We see tremendous synergies between our current business and in the investments we have made in DOT and Smart Ag, an Iowa-based autonomy company which we acquired last November,” said Wade Robey, Executive Director of Raven Autonomy. “We are very excited to be a leader in ag autonomy, and we are committed to working with our customers and partners to help bring these exciting new technologies to ag markets around the globe. Developing solutions for ag autonomy expands the total addressable market served by the Applied Technology Division by several billion dollars and positions the business for tremendous growth over the next several years.”