Deveron, a drone company focused on aerial data-driven smart farming, has signed a definitive agreement to acquire all the issued and outstanding shares of Veritas Farm Management Inc. According to the press release, the agreement will allow farmers to access Deveron’s drone data network and make more informed decisions, thereby cutting costs and increasing farmland yields and will result in the formation of an informatics giant providing North American farmers with access to data driven insights plus access to Deveron’s leading drone data network too.
Veritas is a data analytics company which provides recurring data consulting and precision agriculture services to large enterprises and large-scale farmers. “Data, analytics and insights have always been the driving factors of our vision in building Deveron as a leading drone data company in North America,” commented Deveron’s President and CEO, David MacMillan. “Veritas has built an insights business deeply rooted in understanding the needs of farmers and what can be implemented on the farm today. We look forward to growing our mutual customer base by providing complementary product offerings that are all rooted in increasing yields and reducing costs.”
“Veritas was born out of the need for better management tools for Ontario farmers. Drone imagery has become one of the tools that allows for better management decisions. This partnership will enable Veritas to continue to develop and deliver measurable solutions to our current and growing geographical footprint of customers, in a way that is easy for farmers to implement. Veritas Farm Management has been able to position itself within the Ontario market in a way that is both strategic and unique. This new relationship with Deveron will only enhance our ability to execute for our customers,” said Aaron Breimer, business manager of Veritas Farm Management Inc.
The purchase price for the acquisition of Veritas includes a cash payment of $320,000 and 3,750,000 Units of the company, issued to the shareholders of South West Ag Inc.
In the past few years, drones have been providing farmers and ranchers across the world with previously unavailable or expensive data that allows business owners to reduce the unnecessary expenditure of resources and plan the future of a given area accordingly. For instance, using photogrammetry has helped Brazilian farmers analyze crops. Japan’s aging farmers have been able to successfully reduce manual labour by implementing herbicide-spraying drones.
Deveron’s acquisition of Veritas Farm Management also aims at decreasing costs and optimizing yields by collating the data and customer base of both companies in the U.S. and Canada.
The partnership between farmers using conventional methods to do their work and data corporations focused on garnering actionable information spell growth for drone companies with professional pilot networks and functional post-processing software.