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.
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