AGCO, Your Agriculture Company, (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural machinery and precision ag technology, announced that it has made a 2.53% equity investment in Apex.AI, an emerging leader in safety-certified software for mobility and driverless vehicles.
Apex.AI has differentiated itself with its software products by making it possible and easier for solutions providers to implement safety critical software into on-road and off-road vehicles. Based on proven open-source software, Apex.AI's software enables its customers to focus on developing value adding applications, while Apex.AI provides a strong development infrastructure. With a focus on enabling driverless vehicles, Apex.AI launched its first award-winning product Apex.OS in 2020 and achieved functional safety certification in record time. Since then, Apex.AI also has launched its Apex.Middleware product, which integrates all vehicle communication needs and enables the future deployments of semi-autonomous or driverless vehicles.
"AGCO's investment in Apex.AI further demonstrates our commitment to developing value-adding solutions for our customers that adhere to the most stringent standards and reliability requirements," said Eric Hansotia, AGCO's Chairman, President and Chief Executive Officer. "We are excited to invest in Apex.AI's team as it paves the way for driverless vehicles throughout the agriculture and automotive industries."
About AGCO:
AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers customer value through its differentiated brand portfolio including core brands like Challenger, Fendt, GSI, Massey Ferguson and Valtra. Powered by Fuse smart farming solutions, AGCO's full line of equipment and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $9.1 billion in 2020. For more information, visit www.AGCOcorp.com. For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag AGCOIR.
Please visit our website at www.agcocorp.com
About Apex.AI
Apex.AI is a Palo Alto, Berlin, Stuttgart, and Munich-based company developing breakthrough safe, certified, developer-friendly, and scalable software for mobility systems. The company's flagship product is Apex.OS, a robust and reliable meta-operating system that enables faster and easier software development for vehicles and safer autonomous driving solutions. Their software development kit targets two main customer groups, the OEM developers who need to implement complex AI software integrated with the entire vehicle, and the autonomous driving developers who can now implement safety-critical applications with ease and reliability.
To access the Apex.AI media kit please visit https://www.apex.ai/media-kit.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211213005858/en/
Contacts:
Greg Peterson
Vice President, Investor Relations
(770) 232-8229
greg.peterson@agcocorp.com
Apex.AI U.S. Media contact
Stacy Morris
stacy.morris@futuristacommunications.com, +1 (310) 415-9188
Apex.AI European Media contact
Christian Bangemann
christian.bangemann@apex.ai, +49 171 8398418
