Agco, Trimble close joint venture, form PTx Trimble

AGCO (AGCO) and Trimble (TRMB) announced the closing of their joint venture transaction. The JV, known as PTx Trimble, combines Trimble’s precision agriculture business and AGCO’s JCA Technologies to form a new company that 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. AGCO’s consolidated precision ag revenue is now expected to exceed $2B by 2028, and the transaction is expected to be accretive to AGCO’s revenue growth, adjusted operating margin profile and adjusted earnings per share in the first full year post-close.