AGCO and Trimble have announced the close of its joint venture transaction, resulting in the launch of PTx Trimble.
The new brand will serve farmers with factory fit and retrofit applications in the mixed-fleet precision agriculture market.
Terms of the deal state that AGCO has acquired an 85% stake in PTx Trimble, and Trimble will hold a 15% stake going forward.
“PTx Trimble will provide farmers greater access to next-generation precision ag tools, no matter what brands of tractors and implements they operate,” says Eric Hansotia, AGCO chairman, president and CEO.
The formation of PTx Trimble will build upon AGCO’s OEM and retrofit technology offerings, according to a recent joint press release.
“Farmers are the real winners here,” says Rob Painter, Trimble president and CEO. “Our customers will benefit from tech solutions available 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.
