Bulgarian precision agriculture company NIK and Yara International, the global leader in the production of fertilizers based in Norway, reached a deal for the purchase and sale of Yara’s software – AgroOffice in Bulgaria and Romania.
Under the deal, NIK will integrate Yara’s sales and service teams in the two countries, and over the next 12 months, the Bulgarian company will also merge the two platforms TechnoFarm and AgroOffice in order to provide the best solution to its customers.
Merging the platforms will allow AgroOffice’s current clients to get direct access to NIK’s entire portfolio – smart machines and equipment, agronomy services and software platforms with focus on IoT, as well as farm data integration and farm management.
With a team of over 260 people in all ten countries where it operates, NIK helps clients with building and managing modern farms, while providing products and services that maximize revenue and minimize costs.
Implementing precision agriculture in Bulgaria for more than 20 years
The company has been implementing technologies for precision agriculture in Bulgaria for more than two decades, with a focus on offering complete solutions for automation and optimization of processes. In 2021, the Bulgarian company had a revenue of €30M and expects a 66% annual growth for 2022.
NIK has been present on the Romanian market for six years, offering their products and services through agricultural product wholesaler Vantage.
“We are happy to welcome the teams of Yara Bulgaria and Yara Romania and together create a leading digital platform for farmers in the region. AgroOffice was one of the first software products on the Bulgarian market and its long history combined with the leading position in the field of precision agriculture of NIK, gives us the confidence that we will offer a better solution to Bulgarian and Romanian farmers,” said Kaloyan Kumanov, partner at NIK.
Both Yara Bulgaria and Yara Romania are part of Yara International, a global fertilizer manufacturer with a team of over 17,000 operating in more than 60 countries worldwide.
“Agriculture has been changing its appearance for many years, and expressions such as ‘big data’, ‘internet of things’, ‘autonomous machines’ and ‘robots’ are being used more and more by farmers. The goal of NIK is precisely this – to bring to the field a complete solution for precision agriculture – from software to hardware and agronomic services,” Kumanov emphasized.
With the deal, the wider client base will also speed up the integration of IoT in farms on the two markets, and by providing the tools to collect, integrate and analyze data from the field, NIK will bring this opportunity to more farmers that can later benefit from the analyzed data.
With labor shortage also being one of the main challenges in the agricultural sector, NIK’s solutions for automation and robotization significantly decrease the need for human capital, aiding agricultural producers in the process.
The financial parameters of the agreement are not disclosed, and the deal is expected to be finalized within the next couple of months.