Trimble and AGCO completed the formation of a joint venture in a $2bn deal.

Trimble, a California-based SaaS technology company, and AGCO, a manufacturer and distributor of agricultural equipment and related replacement parts globally, completed the formation of a joint venture. AGCO acquired an 85% interest in Trimble’s portfolio of Ag assets and technologies, in a $2bn deal. "Farmers today are looking for mixed fleet solutions across their tractors and the implements that they use to most efficiently and sustainably feed the world. We believe a joint venture with AGCO, complemented by the successful mixed fleet approach that they have developed with their Precision Planting business model, can help us better serve farmers and OEMs together. Trimble has a rich history of forming and cultivating joint ventures with industry leaders such as Caterpillar, Nikon and Hilti and we are excited about this opportunity with AGCO and its family of leading brands. We look forward to beginning a new chapter with AGCO to bring precision agriculture to both the factory and to the aftermarket," Rob Painter, Trimble President and CEO.