AGCO, Trimble JV is official

Move forms new precision ag company

Trimble

AGCO Corp. and Trimble have closed their previously announced joint venture (JV) transaction. Known as PTx Trimble, the JV combines Trimble’s precision agriculture business and AGCO’s JCA Technologies to form a new company that AGCO said will better serve farmers with factory fit and retrofit applications in the mixed-fleet precision agriculture market.

AGCO has acquired an 85% stake in PTx Trimble, and Trimble will hold a 15% stake. Going forward, the PTx Trimble JV will be consolidated into AGCO’s financial statements. 

“Farmers worldwide need technologies that support them to be more productive and profitable while minimizing the environmental impact of their operations,” said Eric Hansotia, AGCO’s Chairman, President and Chief Executive Officer. “PTx Trimble will provide farmers greater access to next-generation precision ag tools, no matter what brands of tractors and implements they operate.”

AGCO said the formation of PTx Trimble is expected to enhance its comprehensive technology offering around guidance, autonomy, precision spraying, connected farming, data management and sustainability.

“Farmers are the real winners here,” said Rob Painter, Trimble’s President and Chief Executive Officer. “By combining our expertise and resources through this JV, we aim to accelerate the pace of innovation. With a focus on open technologies, customers will benefit from tech solutions available to farmers across a broad range of tractor and implement brands.”

AGCO’s consolidated precision ag revenue is now expected to exceed $2.0 billion by 2028, and the transaction is expected to be accretive to its revenue growth, adjusted operating margin profile and adjusted earnings per share in the first full year post-close. AGCO financed the transaction through a combination of $1.1 billion in recently issued senior unsecured notes, a $500 million term loan facility, other borrowings and cash on hand.

AGCO acquired Canadian technology company JCA Technologies in May 2022.

POWER SOURCING GUIDE

The trusted reference and buyer’s guide for 83 years

The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.

Visit Now

STAY CONNECTED



Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

CONNECT WITH THE TEAM
Becky Schultz Vice President of Content Tel: +1 480 408 9774 E-mail: [email protected]
Julian Buckley Editor Tel: +44 (0) 1892 784088 E-mail: [email protected]
Chad Elmore Managing Editor E-mail: [email protected]
Tony Radke Vice President of Sales Tel: +1 480 478 6302 E-mail: [email protected]
Roberta Prandi Power Progress International Brand Manager Tel: +39 334 6538183 E-mail: [email protected]