Add-on Acquisition • Information Technology

AppHarvest Acquires Root AI

On April 8, 2021, AppHarvest acquired information technology company Root AI for 60M USD

Acquisition Context

This is AppHarvest’s 1st transaction in the Information Technology sector.
This is AppHarvest’s largest (disclosed) transaction.
This is AppHarvest’s 1st transaction in the United States.
This is AppHarvest’s 1st transaction in Massachusetts.

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M&A Deal Summary
Date	April 8, 2021
Target	Root AI
Sector	Information Technology
Buyer(s)	AppHarvest
Deal Type	Add-on Acquisition
Deal Value	60M USD

Target Company

Root AI

Woburn, Massachusetts, United States

Root AI is an artificial intelligence farming startup that creates intelligent robots to help manage high-tech indoor farms.

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Buyer Overview 1

Buyer

AppHarvest

Morehead, Kentucky, United States

Category	Company
Sector	Agriculture

DESCRIPTION

AppHarvest is an AgTech company, operating some of the US' largest high-tech indoor farms to sustainably grow affordable, nutritious, chemical pesticide-free non-GMO fruits and vegetables at scale using up to 90% less water than traditional open-field agriculture and 100% recycled rainwater.

Deal Context for Buyer	#
Overall	1 of 1
Sector: Information Technology	1 of 1
Type: Add-on Acquisition	1 of 1
State: Massachusetts	1 of 1
Country: United States	1 of 1
Year: 2021	1 of 1
Size (of disclosed)	1 of 1

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