AGCO and Trimble have announced the completion of their joint venture known as PTx Trimble. It combines Trimble’s precision agriculture business and AGCO’s JCA Technologies to form a new company that will factory fit and retrofit precision technology to meet the needs of farmers.
AGCO has acquired an 85% stake in PTx Trimble, and Trimble will hold a 15% stake. Going forward, the PTx Trimble joint venture will be consolidated into AGCO’s financial statements.
“Farmers worldwide need technologies that support them to be more productive and profitable while minimising the environmental impact of their operations,” said Eric Hansotia, AGCO’s Chairman, President and Chief Executive Officer. “PTx Trimble will provide farmers greater access to next-generation precision ag tools, no matter what brands of tractors and implements they operate.”
The formation of PTx Trimble enhances AGCO’s comprehensive technology offering around guidance, autonomy, precision spraying, connected farming, data management and sustainability.
“Farmers are the real winners here,” said Rob Painter, Trimble’s President and Chief Executive Officer. “By combining our expertise and resources through this joint venture , we aim to accelerate the pace of innovation. With a focus on open technologies, customers will benefit from tech solutions available to farmers across a broad range of tractor and implement brands.”
