Skip to content Skip to sidebar Skip to footer
Menu
Menu
Mergers & Acquisitions News

Performance Livestock Analytics acquired by Zoetis

April 8, 2020

Ames-based agtech company Performance Livestock Analytics announced today that it has been acquired by New Jersey-based Zoetis.

Zoetis, an animal health company that develops, manufactures and commercializes medicines, vaccines and diagnostic products, says acquiring Performance Livestock Analytics will help it accelerate progress in precision livestock farming and improve sustainability of producers’ operations.

“The addition of Performance Livestock Analytics is an important part of our strategy to bring precision livestock farming to our customers to help improve the health of their animals and the sustainability of their operations,” said Mike McFarland, Executive Vice President and Group President of Accelerated Growth Businesses for Zoetis. “The team at Performance Livestock Analytics has successfully applied Silicon Valley technology learnings to the needs of livestock producers, and we are thrilled to have them join us at Zoetis to continue leading the way in digital and data analytics for livestock.”

Performance Livestock Analytics was the first company to offer cloud-based data management to beef producers, and its Performance Beef solution now combines cloud-based technology with automated on-farm data collection to provide powerful analytics that help feedlot managers make better decisions across financials, nutrition and animal health.

“Our digital platform changes how livestock producers manage their business. Real-time, accurate data allows producers to make better management decisions to help boost efficiency and profitability,” said Dane Duper, co-founder and CEO of Performance Livestock Analytics. “Both our culture and vision align well with Zoetis. Now, as part of Zoetis, we will be better positioned to provide practical technology solutions to improve livestock health and sustainability for our customers.”

This marks the second acquisition of an Ames-based agtech company in the last year as Smart Ag was acquired by Raven Industries last November.

Financial terms of the transaction were not disclosed.

Previous coverage

Performance Livestock Analytics raises $2.25 million to scale platform -Nov. 8, 2018

Performance Livestock Analytics: Growing outside of Iowa -April 25, 2018

AgTech startup Performance Livestock is eliminating paper from the farm -Sept. 18, 2017

At Clay & Milk, we want to tell stories about the many ways entrepreneurs and startups are stepping up to combat coronavirus. Fill out this form to tell us your story and we will be in touch.

Tags:
Performance Livestock Analytics acquired by Zoetis | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.
This Pop-up Is Included in the Theme
Best Choice for Creatives
Purchase Now