FarmWizard sold as part of £8m deal
A Belfast herd management software firm has been bought by an Australian rival as part of an £8m deal.
FarmWizard, set up by Co Armagh entrepreneur Terry Canning in 2004, has been snapped up by AgriWebb.
The deal comes as Farmwizard owner Wheatsheaf Group — part of the empire of the Duke of Westminster — bought a minority stake in AgriWebb for £8m.
AgriWebb is the Australian market leader in livestock farm management software.
The deal includes AgriWebb’s acquisition of FarmWizard, which provides livestock and dairy software.
FarmWizard has been part of Wheatsheaf since 2015 — and is understood to be regarded as fundamental to the growth of the combined businesses.
Mr Canning, FarmWizard chief executive and founder, said: “Over the last 14 years, we have built a platform that allows both farmers and processors to digitise their business and generate production efficiencies.
“With this deal, our customers will enjoy improved support and product enhancements from the AgriWebb platform.”
FarmWizard has nine members of staff in Belfast.
AgriWebb said that with the digitisation of agriculture on the rise, the combination of AgriWebb and FarmWizard farm management products would solve “both the ongoing needs of livestock producers and deliver food provenance for end-to-end supply chain enterprises”.
Justin Webb, co-founder of AgriWebb, said: “AgriWebb’s mission is to enable the agriculture sector to enhance its offering through digital technologies.
“Farming in the UK represents a significant part of the economy, providing 61% of the raw materials for the wider UK agri-food industry, contributing £10bn to the economy and employing over half a million people.”
Wheatsheaf Group is a leading global investor and developer of innovative food and agri-tech firms.