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AGCO to Acquire 85% of Trimble Ag Assets and Technologies to Enhance Technology Offering.

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Vincent

MANews-(C)2009-2023

Georgia, US-based agricultural machinery and Precision Agriculture technology provider AGCO Corp. (NYSE: AGCO), has formed a joint venture with Trimble (NASDAQ: TRMB), where AGCO will acquire an 85% interest in Trimble's portfolio of Agriculture assets and technologies for a cash consideration of USD2.0 bn and a contribution from JCA Technologies, the company said.

The JV creates a leading global mixed-fleet Precision Agriculture platform that will be the exclusive provider of Trimble Ag's comprehensive technology offering, supporting the future development and distribution of next-generation agricultural technologies.

Trimble Ag offers a wide range of easy-to-use technologies compatible with all brands, equipment models and farm types. Its cloud-based hardware, software and application solutions cover all aspects of the crop cycle, from land preparation to planting and sowing to harvest.

The JV will complement and enhance AGCO's existing Precision Agriculture portfolio to further offer industry-leading solutions across the entire crop cycle while supporting more than 10,000 equipment models.

The USD2.0 bn purchase price for AGCO's 85% interest in the Trimble Ag business represents an implied...

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