John Deere has announced the acquisition of Harvest Profit, a farm profitability software company based in Fargo, North Dakota.
The company, which has focused on helping farmers understand their crop production costs and revenue, was founded by Nick Horob in 2015.
“Harvest Profit software helps farmers forecast and measure profitability on a field-by-field basis,” notes Lane Arthur, Vice President, Data, Application, and Analytics at John Deere. “This software will provide John Deere customers with a forward-looking financial lens, better visibility into their farms’ profitability, and insights to help them make the best possible decisions managing their operations.”
Deere says Harvest Profit will retain its brand name, and that the software will continue to be available through John Deere’s Operations Centre.
Financial terms of the acquisition have not been made public.
The Deere-Harvest Profit deal was one of several ag tech announcements made on November 12, as Telus announced the launch of Telus Agriculture after acquiring over half a dozen companies, and Bosch and BASF announced a yet-to-be-named joint venture for bringing forward digital farm tools.
The 2nd inning of Harvest Profit begins today. I’m excited to keep making the software better! Thanks for all of customers support. Same team and mission! https://t.co/X25iYp77qA
— Nick Horob (@NickHorob) November 12, 2020
