*Stay tuned for updates to this story later today after we speak to Agworld about why it invested in Greenbook and how it intends to use its platform.*
There’s been a lot of talk about increasing consolidation in the agtech space lately. With breaking news of another tie-up this morning, perhaps the talk is more than just speculation.
Agworld, a farm management platform developer, has acquired plant protection data startup Greenbook from Farm Journal, the agriculture media group. Greenbook offers a database that makes plant protection (think pesticides) data accessible to farmers, researchers, and consultants. It’s also used by industry associations, ag retailers, app developers, and other entities to facilitate precision ag applications. It partners with a number of chemical plant protection manufacturers, according to the company.
What Greenbook is most known for is its database of crop protection labels, claiming to have 20% more labels than any other database. Users can search the database to find information about a label and product information. Founded in 2009, Australia-based Agworld maintains a standardized database to offer what it describes as quick, easy, and reportable farm data. It currently maintains over 50,000 farms and over 28,000 users across five countries.
“We have now positioned ourselves as THE independent data platform for the agricultural industry, combining the Agworld standardized data platform with the Greenbook standardized label database for the USA will form a key part of this strategy moving forward. The increasing global trend for growers and service providers to demonstrate that their farming practices are compliant with state, national and international standards is driving greater demand from our customers to streamline their compliance processes,” Agworld CEO Doug Fitch said in a statement announcing the acquisition. “By acquiring Greenbook, and therefore keeping the label database independently owned, we are in a solid position to soon start offering the functionality that our customer base, and many other ag retailers and agronomists, would like to see us offer.”
The acquisition also marks a key transition in Agworld’s journey, according to Fitch. The company intends to pivot in 2020 from a startup to an established agribusiness. Strategic acquisitions will be a key part of this transition.