Michelin and Limagrain acquire stake in EXOTIC SYSTEMS, a specialist in the Internet of Things
On Tuesday October 4, during France’s Sommet de l’Élevage, Europe’s leading livestock show, MICHELIN and LIMAGRAIN announced the signature of an investment agreement through which each group will acquire a 20 percent stake in EXOTIC SYSTEMS.
Based in Clermont-Ferrand, France, EXOTIC SYSTEMS has been developing smart devices for other start-ups and big industry names since 2007. In 2017, the company is due to launch a range of connected devices for the agricultural industry.
This investment demonstrates the desire of MICHELIN and LIMAGRAIN to step up their respective digital growth in the agricultural sector. For EXOTIC SYSTEMS, it conveys an ambition to build smart solutions for agriculture. The protocol is subject to the various authorisations applicable to this type of investment
Our goal is to increase access to smart agriculture through devices that are simple for farmers to use. Working with major industry players like LIMAGRAIN and MICHELIN will enable us to roll out our solutions quickly and set our sights higher.
Acquiring a holding in a company based in the same region as our Cooperative is a tremendous lever to grow our potential for innovation in digital technologies, and ultimately to enrich our product offerings for our members and customers around the world. Digital technologies provide a way to model and measure agricultural practices so they can be used by a higher number of farming professionals. This partnership and the complementary expertise of all three companies will help to make the Limagne Val d’Allier plain a hub of agricultural excellence in France’s Auvergne Rhône-Alpes region.
Acquiring this stake in EXOTIC SYSTEMS will enable MICHELIN to reinforce the development of its digital services, and thereby meet the high expectations of today’s increasingly-connected agricultural professionals. In 2015, MICHELIN introduced the world’s first smart tyre for use in agriculture and this partnership is opening new horizons. The Group believes in the benefits of these changes that are affecting the agricultural world. That’s why we innovate to find digital solutions combined with new technologies in order to improve agronomic yield and move toward more effective, sustainable and environmentally-friendly agricultural practices. Lastly, I am very proud of the way our three companies complement each other in terms of innovation, excellence and commitment to our region.