FarmIQ acquires Farmax in a strategic partnership with AgResearch

Team at FarmIQ on 18/10/21 11:00

FarmIQ news

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Two leading agricultural software providers have announced they will join forces to create a more compelling value proposition for New Zealand’s pastoral farmers. FarmIQ Systems and Crown Research Institute (CRI) AgResearch have formed a strategic partnership with the acquisition of Farmax - a decision support tool for farmers.

AgResearch will become a shareholder in FarmIQ Systems and FarmIQ’s preferred provider of science and research going forward. 

CEO of FarmIQ 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.  

The agricultural ‘science’ integrated within Farmax makes it unique and has helped deliver real impact to the sector estimated to be $1.1 billion in increased gross margin over the last decade alone.  

AgResearch Director of Technology and Digital Services Greg Rossiter said 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.  

Mr Rossiter said “the partnership delivers our scientists opportunities to collaborate and strengthen relationships with key partners and FarmIQ shareholders”. 

Gavin McEwen, CEO of Farmax views the partnership as having plenty of benefits for Farmax’s own customers “the business will continue to provide its standalone products 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”. 

Mr McEwen continues “there are some exceptional software systems available to farm businesses, however, no one application does it all and the lack of integration between systems causes real frustrations for our clients, the FarmIQ and AgResearch partnership is a big step in the right direction”.

ABOUT FARMIQ 

FarmIQ drives better farming decisions, improves performance, and provides peace of mind ahead of audit time. It is map-based farm management software that keeps everyday information in one place. FarmIQ is backed by key industry companies Pamu (Landcorp), Silver Fern Farms, MSD Animal Health, Vet Ent and Farmlands and has over 5,000 farms using their platform.  

farmiq.co.nz   

ABOUT AGRESEARCH 

AgResearch is a New Zealand Crown Research Institute (CRI). It works with a wide range of partners in science, education and agri-business to deliver the well-rounded, authoritative research that supports agriculture in New Zealand, and its exports to the world. 

agresearch.co.nz  

ABOUT FARMAX 

FARMAX is a decision support tool helping farmers better plan, monitor and analyse their farm operations while balancing profitability, production and the environment. Farmax is owned by AgResearch and was incorporated in 2003. 

farmax.co.nz   

MEDIA CONTACT: 

Stephen Corbett, Head of Marketing and Growth, FarmIQ 

Email: Stephen.corbett@farmiq.co.nz 

Phone: +64 272933118 

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