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Deere-DN2K to Form Joint Venture for Assisting Growers

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Deere & CompanyDE has agreed to form a joint venture (JV) with DN2K to design SageInsights, a software platform with data management tools, which will assist growers to better serve the agricultural industry.

Based in Greenwood Village, CO, DN2K's system connects technology and information through developing software-based systems to improve decision making process of farmers. Its MyAgCentral platform facilitates agriculture advisers to collect, organize and analyze machine-to -machine information and use it along with insights from other resources. Deere, on the other hand. manufactures agricultural equipment.

Per the JV, the two companies will integrate DN2K's MyAgCentral with Deere's Operations Center utilizing the Deere API. The JV will help Deere, majority owner of the joint venture, to expand its products and services for precision agriculture through SageInsights.

The SageInsights technology will further develop DN2K's existing cloud software platform, MyAgCentral. The technology will provide data management tools to producers and consultants so that they can use information from multiple sources to help farmers address the challenge of supplying food to the rising population.

Hence, the JV will connect people, equipment, technology and insights to help farmers. SageInsights can explore applications in the construction equipment industry while the parent company DN2K explores potential platform opportunities in other industries such as energy, oil and gas, and healthcare. Additional details on the deal have not yet been disclosed.

Deere's steady investment in new products and geographies will support long-term growth. The company expects to be solidly profitable driven by increased global demand for food, shelter and infrastructure. Further, favorable trends derived from a growing, more affluent and increasing population and rising living standards will provide ample opportunity for Deere's growth.

Moline, IL-based Deere is engaged in the production and distribution of agricultural and forestry equipment, construction equipment and engines worldwide. The company sells products in the U.S. and Canada via branch offices as well as distributors and operates through dealers to resell products internationally.

At present, Deere has a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks in the sector include ACCO Brands Corporation ACCO , Lakeland Industries Inc. LAKE and Columbus McKinnon Corporation CMCO . All these stocks carry a Zacks Rank #1 (Strong Buy).

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DEERE & CO (DE): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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