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Jain Irrigation acquires Aussie Observant Pty Ltd’s tech and core team
Friday, 10 February, 2017, 08 : 00 AM [IST]
Our Bureau, Mumbai
Jain Irrigation, Inc has acquired the technology and core team of Australian Observant Pty Ltd. The latter is a world leader in providing in-field hardware and cloud-based applications for precision farm water management.
The acquisition will combine Observant’s broad field monitoring and control technology with Jain’s global irrigation manufacturing and precision agriculture technology platform to provide farmers with a broad suite of capabilities to increase crop yields and, at the same time, responsibly and profitability manage limited resources.
“Technology and innovation are core focus areas for Jain,” said Aric Olson, president, Jain Irrigation, Inc.
“We are thrilled to have the opportunity to access the best technology in the industry with Observant, a globally recognised Ag Tech leader. The award-winning Observant product line is ready to scale to the tremendous global market that the Jain company services,” he added.
“With Jain’s backing, farmers will have access to the best technology and the backing of a 30-year-old company with 11,000 associates,” Olson stated.
“In combination with our complementary product technologies from the United States, Australia, India, and Israel, we have unmatched capabilities to help farmers deliver on our promise of more crop per drop", said Anil Jain, managing director, Jain Irrigation Systems Limited.
Observant was founded in 2003 by Simon Holmes à Court and Matthew Pryor with a mission to transform agricultural water management through the application of innovative technology with practical farm-ready solutions.
As early pioneers in Ag Tech, Observant helped to establish the market that exists today for precision farm water management. With more than 5,000 connected devices in the field, and operations in Australia and the USA, Observant is recognised as a leader in the field.
“We are delighted with the opportunities this acquisition brings,” said Holmes à Court, who serves as executive chairman, Observant.
“Observant has taken a no-compromise approach to developing and delivering farm-ready technology to help optimise agricultural input costs and increase productivity. We are immensely proud of what we have built over the past 14 years and excited by where Jain will take us,” he added.
“Precision water management is a global opportunity, and by combining our technical leadership with Jain’s global scale and reach, more farmers will have access to the technologies required to meet the food challenges of the 21st century,” Pryor said.
While Pryor takes the role of Australian chief executive officer and chief technology officer, Holmes à Court will continue a relationship with Observant in an advisory capacity.
Fennebresque & Co served as exclusive financial advisor and Norton Gledhill as legal advisor to Observant, while Ice Miller and Corrs Chambers Westgarh provided legal advice to Jain.
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