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CropLogic enters Australian agricultural services sector via acquisition

The company's shares are trading about 30% higher intra-day, at 5.6 cents

CropLogic agronomist installing a sensor in a field

CropLogic Ltd (ASX:CLI) has entered into an agreement for the acquisition of agronomy services company, Ag Logic Pty Ltd, based in the key Australian potato growing state of Tasmania.

Ag Logic is well-known in the Tasmanian agricultural services industry, and its expertise and knowledge will allow CropLogic to further enhance its technology platform.

READ: CropLogic gets ready to launch unique app to help crop growers

CropLogic’s app is designed to provide growers with access to critical information relating to their crops using in-field sensors and satellite communications.

Market entry through strategic acquisition

CropLogic is currently servicing circa 60,000 acres or 30% of the potato market in Washington State, US.

Leveraging Ag Logic’s current consumer-base in Tasmania, the acquisition will open the door for CropLogic to develop commercial channels throughout Australia.

CropLogic managing director Jamie Cairns said: “The CropLogic board sees this as a very strategic acquisition in the Australian marketplace and one that will provide us with significant growth opportunities as we build towards commercial outcomes in the Australian market.”

Tasmania has the highest potato yield in Australia

Tasmania’s potato yield per hectare is 31% above the national average with a long history of irrigated farming.

CropLogic is aiming to leverage off the recent $1 billion government and industry irrigation infrastructure upgrade investment in Tasmania.

Cairns added: “CropLogic recognises the value of acquisitions as a means to enter a new regional market, to gain immediate market presence, and then to grow organically.”

US rollout started ahead of 2018 growing season

The CropLogic analytical platform gathers crop data via in-field sensors coupled with satellite communications to predict outcomes and optimise field productivity.

Skilled agronomists help present this information to the grower and assist them in their critical decision-making process.

CropLogic will have a total of 830 in-field sensors (probes) available for the upcoming 2018 growing season in the pacific northwest region of US.

Quick facts: CropLogic Ltd

Price: 0.031 AUD

Market: ASX
Market Cap: $12.91 m

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