Raven Industries to Acquire Full Ownership of DOT®
To Accelerates Investments in Providing Autonomous Agriculture Solutions
As part of its ongoing engagement to autonomous agriculture solutions, Raven Industries, Inc. announced on 30th March 2020, that it had joined an agreement to acquire the left equity of DOT Technology Corp. (DOT®), a leading company in autonomous platforms. This additional investment is a further sign of Raven’s confidence in its stand to bring these innovations to market and propel its market share in precision agriculture technology.
DOT is the developer and creator of the Dot Power Platform. This autonomous power unit can pair with various range of implements that are crucial to agricultural production and will offer a variety of labor-saving solutions to farmers and Agriculture Retailers alike. Combining DOT, and the recently acquired Smart Ag® autonomous perception and path planning technology, with our core technology platforms in guidance, steering, and machine control enables Raven to deliver revolutionary autonomous solutions and significantly accelerate our long-term growth in Applied Technology. The company is currently moving forward with the commercialization of Raven Autonomy™. It will be extending its portfolio with new contributions, which will increase the importance of autonomy to end-users at a rapid pace.
According to Wade Robey, Executive Director of Raven Autonomy, Raven Autonomy sees tremendous synergies between our current business and in the investments we have made in DOT and Smart Ag, an Iowa-based autonomy company which we acquired last November. Raven Autonomy is very excited to be a leader in ag autonomy, and Raven Autonomy is committed to working with our customers and partners to help bring these exciting new technologies to ag markets around the globe. Developing solutions for ag autonomy expand the total addressable market, followed by the Applied Technology Division, by several billion dollars and positions the business for tremendous growth over the next several years.
For decades, Raven has been assigned to maximizing its operational efficiencies through our core contribution of application and machine control platforms. The organization’s initiative into autonomous solutions is an extension of that core. As the demand of the overall farming operation and compliance requirements become more complex, the need for more efficient utilization of resources is critical. Raven is best positioned to solve this great challenge. The company’s autonomous solutions will become an essential part of agricultural equipment technology for ag retailers and growers and enable them to drive significant productivity improvements in the future.
Raven Industries is committed to providing innovative, high-value products and solutions that resolve significant challenges throughout the world. Raven is a leader in precision agriculture, high-performance specialty films, and lighter-than-air technologies.