AGCO Invests in Apex.AI, a Developer of Safety-Certified Software for Mobility and Autonomous Applications

Rhea-AI Summary

AGCO (NYSE:AGCO), a global leader in agricultural machinery, announced a 2.53% equity investment in Apex.AI, a company specializing in safety-certified software for mobility and autonomous vehicles. This investment underscores AGCO's commitment to enhancing value-adding solutions for its customers. Apex.AI's software streamlines the implementation of safety-critical software, advancing the development of driverless vehicles, particularly within the agricultural sector. AGCO's investment is part of its strategy to leverage innovative technologies in agricultural practices.

Positive

• AGCO's 2.53% equity investment in Apex.AI positions the company to enhance its technological capabilities in driverless vehicles.
• Apex.AI's software facilitates the adoption of safety-critical software, aligning with AGCO's focus on high standards and reliability.

Negative

• None.

DULUTH, Ga.--(BUSINESS WIRE)-- 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/

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

Source: AGCO

FAQ

What is AGCO's recent investment announcement?

AGCO announced a 2.53% equity investment in Apex.AI, focusing on software for mobility and driverless vehicles.

How does AGCO's investment in Apex.AI impact its business?

The investment aims to enhance AGCO's technological capabilities in the agricultural sector, particularly in autonomous vehicle solutions.

What kind of software does Apex.AI develop?

Apex.AI develops safety-certified software for mobility systems, including solutions for on-road and off-road vehicles.

What is the significance of Apex.AI's software products?

Apex.AI's software products simplify the integration of safety-critical software, which is essential for the future of driverless vehicles.

Who is the CEO of AGCO?

Eric Hansotia is the Chairman, President, and CEO of AGCO.