Trimble (TRMB) has provided an update.
Trimble Inc. and AGCO Corporation have successfully formed a joint venture, PTx Trimble, to innovate in the mixed fleet precision agriculture market. As part of the deal, Trimble has contributed its precision agriculture business and cash, while AGCO has added its JCA Technologies business and more substantial cash investment. The partnership has resulted in AGCO owning an 85% stake, with Trimble retaining a 15% interest. Additionally, the companies have established several long-term agreements to ensure the continued provision of key technologies and services within the joint venture.
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