AgroVIR Ltd. Acquired FarmFacts Hungary Ltd.: A Strategic Step Forward in Agricultural Digitization

AgroVIR Ltd. and FarmFacts Hungary Ltd. announce that AgroVIR Ltd. acquired a 100% ownership stake in FarmFacts Hungary Ltd. from Germany based FarmFacts GmbH on November 13, 2024. FarmFacts Hungary was the distributor of NEXT Farming software.

The transaction aims to leverage the knowledge and experience accumulated in both companies to jointly support the development of agricultural digitization in Hungary and enhance the efficiency and productivity of their clients’ farming operations. By combining expertise and innovation, the two companies aim to deliver outstanding services to farmers and strengthen their presence internationally with competitive solutions.

Prior the acquisition, the owner of NEXT Farming software terminated the distribution agreement with FarmFacts Hungary Ltd, resulting in the following consequences:

• FarmFacts Hungary Ltd. will no longer sell NEXT Farming licenses
• Software updates for the NEXT Farming Pro system have been discontinued
• FarmFacts Hungary Ltd. will only provide technical and software usage support to existing customers
• No new features or bug fixes will be available for the NEXT Farming software moving forward

Following the acquisition, AgroVIR will ensure continuous technological and software support for FarmFacts Hungary Ltd.'s customers, while FarmFacts Hungary Ltd.’s precision services, innovative tools, and professional support will remain available. In order to ensure that NEXT Farming users maintain their software infrastructure and digital business processes, representatives of both companies will jointly contact and inform users about the next steps and possibilities to transition to AgroVIR Global software. In the meantime, customer support services remain fully operational, and the scheduling of initial customer meetings has already begun.

Miklós Maróti, Managing Director of AgroVIR Ltd., said

AgroVIR has always been committed to supporting farmers, and this acquisition clearly reflects that dedication. It is important for us that current NEXT Farming users experience a seamless transition and continue to enjoy the benefits of digitization, complemented by our enhanced services.

Dr. Péter Gyódi, Managing Director of FarmFacts Hungary Ltd., added

Our goal is to preserve the values we have built so far and fulfil our commitments to farmers. While the support for the NEXT Farming farm management software is ending, we remain dedicated to continuing our precision services, which will play a prominent role in our future strategy.

With this strategic move, AgroVIR further strengthens its position in the field of agricultural digitization in Hungary and contributes to meeting the needs of local farmers in farm management. The company remains focused on promoting more efficient farming practices and sustainable profitability.