Last checked at 23 Nov 2016 09:37
23 November 2016
TMT INVESTMENTS PLC
("TMT" or the "Company")
Disposal of investment in VitalFields
TMT Investments PLC, the AIM-traded venture capital company investing in high-growth, internet-based companies across a variety of core specialist sectors, is pleased to announce that The Climate Corporation, a subsidiary of Monsanto Company, has acquired VitalFields, one of its portfolio companies.
The acquisition by Monsanto represents the ninth profitable exit by TMT from its investment portfolio since its admission to AIM in December 2010.
Incorporated in Tallinn, Estonia, WeatherMe OÜ, trading as VitalFields, simplifies the many farming tasks involved with spraying, fertilizing and sowing thanks to its app and web interfaces. Examples of the multiple capabilities that VitalFields offers to farmers include plant disease and growth phase modelling (tracking climatic patterns and analyzing farmer's input to assess risks) and farm management functionality (from planning and managing farm activities to stock management and P&L reports).
TMT originally invested €100,000 in the form of a convertible note in VitalFields in December 2013, which it subsequently converted into equity when VitalFields raised further capital in 2015.
Alexander Selegenev, executive director of TMT, commented: "Assessing viable exit opportunities for our investments is a fundamental part of our investment strategy. Across all industry sectors, large corporations are acquiring nimble start-ups that have demonstrated their ability to build significant customer bases thanks to dramatic product improvements, be it through better data management, ease of use or making it more efficient to do the same job."
Alexander Selegenev added: "We see that the more likely acquisition targets for major corporations are companies combining outstanding management with leading technology and business solutions. This is why we place a special emphasis on the founders' team when investing, as top class management will have the ability to develop leading products that outshine their peers and attract the attention of acquirers. We are very pleased to see that one of the world's leading agricultural sciences companies has further validated our exit strategy".
TMT has invested in over 40 companies to date, mainly in the SaaS, Big Data, E-commerce and Mobile sectors. Previous exits from TMT's investment portfolio to major corporations include the sale of task management app Astrid to Yahoo in May 2013 and the sale of creative photo sharing app Kanvas to AOL in April 2015.
For further information contact:
TMT Investments Plc Alexander Selegenev www.tmtinvestments.com
| +44 1534 281 843 alexander.selegenev@tmtinvestments.com
|
Kinlan Communications David Hothersall
| Tel. +44 20 7638 3435 davidh@kinlan.net |
About TMT Investments
TMT Investments PLC invests in high-growth, internet-based companies across a variety of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has net assets of US$53m and has invested in over 40 companies to date. The company's objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. The company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com
About VitalFields
WeatherMe OÜ, which trades as VitalFields, is incorporated in Tallinn, Estonia and is a digital agriculture company offering an easy-to-use farm management system for farmers to plan, manage and analyze their field activities, including simplified tracking and reporting of all crop inputs to help ensure compliance with European Union environmental standards. Founded in 2011 VitalFields is available in seven European countries: Austria, Estonia, Germany, Poland, Romania, Switzerland and Ukraine. For more information, please visit www.vitalfields.com.
About Monsanto Company
Monsanto is committed to bringing a broad range of solutions to help nourish our growing world. We produce seeds for fruits, vegetables and key crops - such as corn, soybeans, and cotton - that help farmers have better harvests while using water and other important resources more efficiently. We work to find sustainable solutions for soil health, help farmers use data to improve farming practices and conserve natural resources, and provide crop protection products to minimize damage from pests and disease. Through programs and partnerships, we collaborate with farmers, researchers, nonprofit organizations, universities and others to help tackle some of the world's biggest challenges. For more information, please visit discover.monsanto.com and monsanto.com.