AGCO to Acquire 85% Interest in Assets and Technologies of Trimble Ag for USD 2bn.

MANews-(C)2009-2023

US-based agricultural machinery and precision ag technology provider AGCO Corp. (NYSE: AGCO) has agreed to acquire an 85% interest in the portfolio Ag assets of Trimble (NASDAQ: TRMB) for a cash consideration of USD 2bn and the contribution of JCA Technologies, the company said.

Through a joint venture, mixed-fleet Precision Ag platform will be the exclusive provider of Trimble Ag's comprehensive technology offering, supporting the future development and distribution of next-generation Ag technologies.

The JV will complement and enhance AGCO's existing Precision Ag portfolio to deliver even more industry leading solutions across the crop cycle while supporting over 10,000 equipment models.

By combining these two Precision Ag portfolios and leveraging multi-channel access across Trimble Ag, AGCO OEM & Aftermarket, other OEMs, and Precision Planting dealers, the JV will be positioned to drive outsized growth and better provide next-generation technologies to even more farmers around the world.

The USD 2bn purchase price for AGCO's 85% ownership in the Trimble Ag business represents an implied enterprise value of approximately USD 2.35 bn and implies a...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT