From a news release
South West Ag Partners Inc. of Chatham, Ont. has reached an agreement on the sale of its wholly-owned subsidiary, Veritas Farm Management to Deveron UAS of Toronto.
“South West Ag Partners and Veritas Farm Management have enjoyed a very beneficial partnership with Deveron UAS for several years,” said Paul Hazzard, General Manager for South West Ag Partners Inc. in a news release. “South West Ag Partners constantly focuses on operating its businesses in the most efficient and customer-oriented fashion. The discussions that lead to this transaction with Deveron are consistent with this focus.”
The sale includes South West Ag Partners’ 100 percent share of Veritas Farm Management Inc. This transaction is separate from the pending transaction between Cargill, La Coop fédérée, and South West Ag Partners. Finalization of the transaction with Deveron will take place upon the completion of definitive agreements and any required regulatory reviews. The sale is expected to close in Q3 of 2018.
“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 & 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. By working with the South West Ag team, 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,” says Aaron Breimer, Business Manager of Veritas Farm Management Inc.