BASF strengthens digital farming portfolio with ZedX acquisition

ZedX's agronomic models help farmers make better production decisions

MISSISSAUGA, ON, April 26, 2017 /CNW/ - BASF has signed an agreement to acquire ZedX Inc., a leader in the development of digital agricultural intelligence. Headquartered in Bellefonte, Pennsylvania, ZedX's expertise lies in the development of agronomic weather, crop, and pest models that rapidly translate data into insights for more efficient agricultural production. With this planned acquisition, BASF strengthens its digital farming footprint and further invests in helping growers take advantage of big data generated in farming and beyond.

"Growers are embracing cutting-edge technology and tools that can help them increase crop yields," said Scott Kay, Vice President, Crop Protection, BASF North America. "ZedX's innovative platforms and strong intelligence capabilities will not only enhance our current digital services, but will also provide growers with critical data to successfully manage their operations."

In a time where digital transformation is changing business, BASF aims to ensure that agronomic insights and recommendations from digital solutions help its customers make better, more informed decisions.

"BASF is playing an active role in the digital transformation of agriculture and is constantly evaluating where and how to engage further," said Jürgen Huff, Senior Vice President, Global Strategic Marketing of BASF's Crop Protection division. "ZedX's experts impressed us with their extensive and deep know-how in agronomic models. We are very pleased to incorporate their knowledge into our offers to serve farmers' needs through innovative products and services."

Joe Russo, ZedX's Founder and President, pointed out that during a three-year collaboration, the partnership has already shown great results. "Our modeling expertise, coupled with BASF's knowledge of chemistry, has truly benefited growers and agriculture in general. For example, we developed a model that gave the right window of application for a BASF herbicide based on important weather and environmental conditions."

Weather conditions, soil temperature, wind speed – all of these factors can influence the performance of crop protection products. By acquiring ZedX, BASF will be able to help farmers use their resources more efficiently and sustainably. Additionally, the ZedX acquisition further complements BASF's digital farming portfolio which includes Maglis™ and Compass™ Grower Advanced. Maglis is an online platform that connects technology, data and people in a smarter way. It offers a range of integrated and intuitive tools that guide farmers from planning and planting to harvest.

"The smart use of digital solutions can open up all sectors of the economy to many new opportunities, and farming is no exception. ZedX is a great fit to our growth plan. We will strengthen our sales by offering targeted advice, insights and recommendations and by interacting more closely with our customers," concluded Huff.

The acquisition is expected to be completed within four weeks. Products and solutions from ZedX will soon be available to all key markets. Financial details of the deal were not disclosed.

About BASF's Crop Protection division

With a rapidly growing population, the world is increasingly dependent on our ability to develop and maintain sustainable agriculture and healthy environments. BASF's Crop Protection division works with farmers, agricultural professionals, pest management experts and others to help make this possible. With their cooperation, BASF is able to sustain an active R&D pipeline, an innovative portfolio of products and services, and teams of experts in the lab and in the field to support customers in making their businesses succeed. In 2016, BASF's Crop Protection division generated sales of more than €5.6 billion. For more information, please visit us at www.agriculture.basf.com or on any of our social media channels.

About BASF

BASF Canada, headquartered in Mississauga, Ontario, has 670 employees at 12 production facilities and offices located across Canada. BASF Canada is a subsidiary of BASF SE, Ludwigshafen, Germany and an affiliate of BASF Corporation, Florham Park, New Jersey. BASF has more than 17,500 employees in North America, and had sales of $16.2 billion in 2016. For more information about BASF's North American operations, visit www.basf.us. To find out more about BASF's activities in Canada, visit www.basf.ca or follow us on twitter www.twitter.com/basfcanada.

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 114,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of about €58 billion in 2016. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.

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SOURCE BASF Canada Inc.

Christina Stroud, BASF Canada, Tel: [phone], E-mail: [email protected]