Deere Acquires Bear Flag Robotics For $250M

Deere & Company DE has agreed to acquire Silicon Valley-based startup Bear Flag Robotics for $250 million.
Founded in 2017, Bear Flag Robotics develops autonomous driving technology compatible with existing machines.
The acquisition supports John Deere's long-term strategy to create machines with advanced technology to support individual customer needs.
Deere first started working with Bear Flag in 2019 as part of the Startup Collaborator program. Since then, Bear Flag has successfully deployed its autonomous solution on a limited number of farms in the U.S.
Deere held cash and cash equivalents of $7.9 billion as of May 2, 2021.
Price Action: DE shares are trading higher by 1.11% at $364.66 on the last check Thursday.

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