AGCO and Trimble Close $2 Billion Deal, Launch PTx Trimble Brand

AGCO and Trimble recently announced the closing of a joint venture deal that results in the spinoff of a new brand, PTx Trimble, specializing in factory fit and retrofit applications in the mixed-fleet precision agriculture market.
AGCO and Trimble recently announced the closing of a joint venture deal that results in the spinoff of a new brand, PTx Trimble, specializing in factory fit and retrofit applications in the mixed-fleet precision agriculture market.
(AGCO/Trimble)

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. 

Tags

Precision Agriculture Precision Ag Technology - General Machinery - General Miscellaneous
 

Latest News

Pro Farmer Analysis
Canadian Rail Strike Potential Next Month
Canadian Rail Strike Potential Next Month

Canadian Pacific Kansas City (CPKC) Ltd. is preparing for the possibility of a strike by some 3,300 workers next month, as the clock ticks toward a negotiation deadline.

Pro Farmer Editors
Market Analysis
AgDay Markets Now: Shawn Hackett says Winter Wheat Was Due for a Correction
AgDay Markets Now: Shawn Hackett says Winter Wheat Was Due for a Correction

Shawn Hackett, Hackett Financial Advisors says wheat finally saw profit taking on Monday and was due for a correction. Soybeans ended slightly higher, pushed by meal.

Michelle Rook
Pro Farmer Analysis
Labor Department Finalizes Rule for H-2A Ag Worker Program
Labor Department Finalizes Rule for H-2A Ag Worker Program

The Department of Labor finalized a new rule for agricultural workers in the U.S. under the H-2A visa program, which will take effect on June 28.

Pro Farmer Editors
Crop Production
Crop Planting Progress Surges As Spring Warms Up Soil
Crop Planting Progress Surges As Spring Warms Up Soil

So far, 12 states out of the 18 total reporting acres of corn planted are ahead of the five year average.  

Matthew J. Grassi
Market Analysis
Wheat, Corn and Cattle Take a Breather, While Soybeans Rally with Meal
Wheat, Corn and Cattle Take a Breather, While Soybeans Rally with Meal

Winter wheat sees some profit taking Monday pulling down corn. While Shawn Hackett, Hackett Financial Advisors says soybeans follow meal higher. Profit taking in cattle. And what's driving the rally in metals?

Michelle Rook
Corn
Ferrie: With Poor Quality A Concern, Hold Back Some Seed Corn
Ferrie: With Poor Quality A Concern, Hold Back Some Seed Corn

Ken Ferrie says 37% of seed corn samples he's reviewed fall below good quality levels; 11% fall into the poor category. He advises retaining 2 lb. of each questionable lot until stand establishment can be evaluated.

Rhonda Brooks
View More