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Farmers Business Network valued at $3.9 billion after ADM takes stake -Breaking

by Mike Robinson

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© Reuters.

(Reuters) – U.S. grain merchant Archer-Daniels-Midland Co has taken a minority stake in Farmers Business Network in a deal that values the agriculture technology platform at $3.9 billion, the companies said on Thursday.

FBN’s data-driven platform enables farmers to take decisions about seeds and agronomy.

This startup, which was established in 2014, stated it would use capital to support the growth of its various platforms FBN Direct and FBN Financial platforms. Gradable is also included.

FBN will hire over 350 more team members within the next 12 months, as well as invest in technology and data sciences.

According to the joint statement, ADM Ventures is the corporate venture capital arm of the company.

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