Monsanto is to reposition itself as a big data company following a failed bid to buy rival firm Syngenta.
The company, better known for punting weed killer and genetically modified seeds, announced the move to shareholders.
Monsanto CTO Robb Fraley recently told Reuters that the firm was going to get into data science and service, but would not be exiting the seed and chemical business for the foreseeable future.
"We transformed from industrial chemical company to a biotech company, then to a seeds company," Fraley told Reuters. "Now, we're transforming again."
The company is said to be mapping out moves to get into big data and is briefing major shareholders on plans. According to the report, Monsanto has met with 195 tech startups over the last few months and has targeted five as potential acquisition targets. There is currently no word on how big a part big data will play in Monsanto's new vision.
Monsanto presently owns Climate Corp, a weather forecasting firm it acquired in 2013, and equipment maker Precision Planting, which it bought for $250 million in 2012.
Up until a few weeks ago, Monsanto was still touting its main vision as a company based on selling chemicals and genetically modified seeds. But since the failed bid for Syngenta, that vision has sharply changed.
But some analysts are sceptical over moves to big data, according to Reuters.
"There's a big difference between profits and meaningful profits that will move the needle," Matt Arnold, an Edward Jones analyst, told the news service. "We would not expect (data services) to be a needle mover in the near future."
