Simpson Thacher is representing AGCO (NYSE: AGCO) in connection with its entry into a joint venture with Trimble (NASDAQ: TRMB) to acquire an 85% interest in Trimble’s portfolio of agriculture assets and technologies, in exchange for $2 billion in cash, subject to customary adjustment, and the contribution of JCA Technologies to the joint venture. The transaction is subject to customary conditions, including regulatory approvals.
AGCO is a global leader in the design, manufacture and distribution of agricultural machinery and precision agriculture technology. JCA Technologies is a leader in autonomous agricultural machine systems. Trimble’s Agriculture Division provides solutions across the agricultural supply chain, including guidance and steering, desktop and cloud-based data management, flow and application control, water management, harvest solutions and positioning services. The joint venture will create a global leading mixed-fleet precision agriculture platform that will be the exclusive provider of Trimble’s comprehensive agriculture technology offering.
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