FarmIQ Systems and state-owned AgResearch have formed a strategic partnership after FarmIQ acquired decision-support tool Farmax from the SOE.
AgResearch will now become a shareholder in FarmIQ Systems and a preferred provider of science and research going forward.
FarmIQ chief executive Will Noble said the partnership was long overdue as both organisations have shared the same vision for the agriculture sector since its inception from the Primary Growth Partnership in 2010.
"If we want to become the leading decision support platform of choice for all pastoral farmers in New Zealand, then having AgResearch as a shareholder and the Farmax product to our whanau, brings with it strong industry credibility and a vast amount of science to our software - it's incredibly exciting for our farming customers and the industry as a whole".
AgResearch director of technology and digital services Greg Rossiter says the decision was made as part of the CRI's commitment to providing the agricultural industry with quality science and software-based decision support tools.
Going forward FarmIQ will invest the capital and provide the infrastructure to take Farmax to the next level, which was not considered AgResearch's core business.
"The partnership delivers our scientists opportunities to collaborate and strengthen relationships with key partners and FarmIQ shareholders," says Rossiter.
Gavin McEwen, chief executive of Farmax views the partnership as having plenty of benefits for Farmax's own customers "the business will continue to provide its standalone product and services to our valued customers".
"Our goal is to unlock tangible benefits to all by improving interoperability and integration between both applications to make things easier, quicker and more accurate for customers."
