NZX buys livestock info business

While farmers have locked in $4.50 a kg for the current season, all eyes will be on Fonterra's forecast for the 2015/16 season. Photo / NZME.

Exchange operator NZX has bought livestock market information business iFarm for an undisclosed sum.

NZX said the purchase would strengthen NZX Agri's position as a provider of information and data products to a growing number of farmer and corporate subscribers.

iFarm publishes weekly and monthly reports, combining the latest export data and prices plus a wrap-up from recent stock sales throughout the country.

The iFarm business will become part of NZX's AgriHQ Data business unit.

"The iFarm business is a great strategic fit with our existing AgriHQ data product set, broadening our data and analytics offering to farmers and corporate subscribers, both nationally and internationally," said NZX chief executive Tim Bennett.

Staff from iFarm would continue to operate the business and provide the same level of product quality and customer service that subscribers had come to expect, he said.

While NZX did not disclose the purchase price, the exchange said it was "not material".