Raven Industries Acquires Intellectual Property Portfolio of Jaybridge Robotics
April 07 2021 - 4:27PM
Business Wire
Acquisition Advances Growth Strategy in
Autonomous Agriculture
Raven Industries, Inc. (the Company; NASDAQ:RAVN), a leader in
agriculture technology, announced today that it has purchased all
of the intellectual property (IP) and patents of Jaybridge
Robotics, an early developer of automated agriculture
technology.
Jaybridge’s unique IP portfolio includes significant and
critical patents for technology directly related to path-planning,
obstacle detection and avoidance, and multi-machine control
systems. Raven will leverage this IP portfolio with the Company’s
continued development of Driverless Ag Technology — including
integration of the technology into the Company’s AutoCart®
platform.
“By acquiring Jaybridge’s intellectual property we are able to
advance our autonomy strategy by combining necessary,
technology-leading patents with our current suite of proprietary
products in this space,” said Jared Kocer, Raven’s Director of
Technology Solutions. “Having this technology will allow us to
accelerate the development of vehicle automation for agriculture
equipment applications.”
The acquisition was completed in the first quarter of the
Company’s current fiscal year.
About Raven Industries, Inc.
Raven Industries (NASDAQ: RAVN) provides innovative, high-value
products and systems that solve great challenges throughout the
world. Raven is a leader in precision agriculture, high-performance
specialty films, and aerospace and defense solutions, and the
company’s groundbreaking work in autonomous systems is unlocking
new possibilities in areas like farming, national defense, and
scientific research. Since 1956, Raven has designed, produced, and
delivered exceptional solutions, earning the company a reputation
for innovation, product quality, and unmatched service. For more
information, visit https://ravenind.com.
About Raven Applied Technology
For decades, Raven Applied Technology has been committed to
maximizing operational efficiencies through its innovative
agriculture technology. The company’s autonomous product suite,
Raven Autonomy™, is an extension of that core. From field computers
to sprayer and planter controls, GPS guidance steering systems,
logistics technology, and autonomous solutions — Raven provides
precision agriculture products designed for ag retailers and
growers to remain competitive and profitable into the future. Learn
more at https://ravenprecision.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210407005943/en/
Erin Rinehart, Marketing Manager Raven Industries +1 (605)
336-2750 erin.rinehart@ravenind.com Jared Stearns, Investor
Relations Raven Industries +1 (605) 336-2750
jared.stearns@ravenind.com
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