Lund-based AgriTech startup Vultus has signed an agreement to merge with Norwegian agricultural platform Agdir. The strategic merger combines Vultus’s satellite-based crop analysis expertise with Agdir’s comprehensive farm management platform, creating an integrated solution aimed at optimizing sustainable farming practices. The merger is structured as an asset acquisition, with Agdir purchasing the majority of Vultus’s assets for a combination of cash and shares. Upon completion, Vultus is expected to hold around 20% ownership in the merged company.
Expanding Market Potential Through a Unified Offering
The boards of both Vultus and Agdir see this merger as a natural progression in their partnership, which began earlier in 2024. Together, the companies have already attracted new clients and unlocked market opportunities both in Scandinavia and internationally. By combining their technological strengths, the merged entity will provide farmers with a comprehensive suite of tools for crop monitoring, operational efficiency, and decision support.
Enhancing Farm Efficiency and Sustainability
Vultus’s technology enables farmers to monitor crop health and optimize fertilizer and water usage through satellite-based analytics, thereby reducing costs and minimizing environmental impact. Agdir’s platform provides a complete suite of tools for managing farm operations, from office tasks to real-time crop tracking. The newly merged platform will give farmers tailored recommendations covering the entire crop lifecycle, with a focus on enhancing yield, efficiency, and profitability while reducing the ecological footprint.
Terms and Conditions
As Vultus is publicly traded the transaction, valued at approximately € 1.3 million (NOK 15 million), is subject to several conditions, including approval from Vultus’s and Agdir’s shareholders and a successful due diligence process. Shareholders representing about 55% of Vultus’s voting power have already pledged support for the deal. Detailed terms of the transaction are expected to be disclosed within 45 days.
The merger marks a significant step in the journey of both companies toward creating a more sustainable and efficient future for the agriculture industry.
