Form 8-K · Current Report · Filed 2024-04-01
Trimble and AGCO Close Joint Venture Deal, Form PTx Trimble
On April 1, 2024, Trimble Inc. and AGCO Corporation completed the formation of their joint venture, PTx Trimble, as previously reported. Trimble contributed its precision agriculture business, excluding certain technologies, and $8 million in cash, while AGCO contributed its JCA Technologies and $46 million in cash. Trimble retains a 15% stake in PTx Trimble, with AGCO owning the remaining 85%. The Transaction also includes additional agreements for supply, technology transfer, transition services, and trademark licensing. Trimble and AGCO expect the Transaction to be accretive to AGCO's revenue growth, adjusted operating margin, and adjusted earnings per share in the first full year post-close.
- Filer
- Trimble Inc. TRMB · NASDAQ
- Filed
- Accession
- 0001193125-24-083599
- CIK
- 0000864749
- Signal
- High impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Entry into a Material Definitive Agreement
Completion of Acquisition or Disposition of Assets
Regulation FD Disclosure
Financial Statements and Exhibits
Market reaction
Close before filing
$64.36
Next session
-2.4%
Since filing
-7.6%
Latest close
$59.47
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from TRMB reporting the same item, with the next session's move:
Exhibits (2)
About Trimble Inc.
Trimble Inc. is a technology company that develops positioning and productivity solutions for various industries. It focuses on connecting the physical and digital worlds through advanced integrated solutions. Trimble's portfolio includes industries like agriculture, construction, geospatial, transportation, and natural resources, where accurate positioning and measurement are crucial. The company offers products such as GPS receivers, laser rangefinders, unmanned aerial vehicle systems, and software tools. Founded in 1978 and headquartered in Sunnyvale, California, Trimble has consistently contributed to technological advancements by providing systems that improve productivity, quality, safety, and compliance. Trimble's solutions are vital in automating and streamlining workflows, thus fostering efficiency and innovation across sectors. Its presence is felt globally as it enables businesses to make data-driven decisions, promoting sustainable practices and operational intelligence.
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