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Rabobank, TELUS Agriculture purchase Conservis

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Organizations to combine their global presence to take on agriculture's data management challenges with joint acquisition

Rabobank a global food and agriculture bank, and TELUS Agriculture, a global agriculture technology company, have acquired Conservis, a company that integrates disparate farm technologies into a single interface. In announcing the move, the companies say they "bring the expertise, experience and global presence to further develop the Conservis farm management platform."

Conservis was created after one of its founders, in 2008, was approached by a group of farmers who said they wanted to manage harvest more profitably but needed better technology. That was the spark that got Conservis started, and problem-solving has remained part of their business.

Today, Conservis enables family and institutional farms to organize data from different sources, eliminate error-prone manual entries, creating business plans and manage costs, production and marketing through the year. Combining TELUS Agriculture's portfolio of technologies with Rabobank's knowledge and relationships across the entire food value chain, Conservis customers will a solution that aggregates a farm's data into a single resource. According to the acquisition announcement, this will provide "the tools that a farm needs for supply chain validation, agronomic decisions, financial management, resource and inventory management, and more."

Rabobank and TELUS Agriculture's aim is to deliver an even more robust Conservis platform to drive value for farms across a diverse range of crops and livestock. Since 2018, Rabo AgriFinance, a Rabobank subsidiary that serves agriculture in North America, has been a development partner with Conservis.

TELUS Agriculture, which includes a number of familiar brands in its stable – including Agrian and Muddy Boots – will help enhance the Conservis platform's functionality. Farmers will also be able to access a range of TELUS Agriculture products including Agricultural Data Exchange and Agriculture Services Platform.

Farm data privacy matters

In the release, Rabobank and TELUS Agriculture say they "remain committed to Conservis' strict data privacy standards. Farmers on the Conservis platform own their data and will continue to control when business partners, including Rabobank and TELUS Agriculture receive information."

Berry Marttin, member of the Rabobank Managing Board, notes that "we recognize the value in the industry of having a digital tool available for growers to link their agronomic and business data. TELUS Agriculture's deep specialization in digital agriculture makes them an idea partner for us to facilite the continue success and growth of agriculture's leaders."

Francois Gratton, executive vice president, TELUS and Group President, TELUS Health and TELUS Agriculture, adds: "We believe that improving the on-farm profitability and enabling the efficient sharing of farm data with trusted partners are foundational ingredients to ensure the sustainability and security of our food system. Together alongside Rabobank and with the technology available in the Conservis platform, we will be able to make financial management of farms a more efficient process and unlock new opportunities for our customers across the food value chain."

Source: Rabobank/TELUS Agriculture. The source is solely responsible for the information provided and is wholly owned by the source. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset.

TAGS: Technology
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