AGCO Corporation has entered into a joint venture (JV) with Trimble, where AGCO will acquire an 85 percent interest in Trimble’s portfolio of agriculture assets and technologies for cash consideration of USD$2 billion and the contribution of JCA Technologies.
The JV creates a mixed-fleet precision agriculture platform that will be the exclusive provider of Trimble Ag’s technology offering, supporting the future development and distribution of next-generation ag technologies. Trimble Ag offers a wide variety of user-friendly technologies compatible across brands, equipment models and farm types. Its hardware, software solutions and cloud-based applications span all aspects of the crop cycle, from land preparation to planting and seeding to harvest.
“This landmark transaction creates a JV that becomes the premier mixed-fleet precision ag business in the world and accelerates AGCO’s strategic transformation,” said Eric Hansotia, AGCO’s chairman, president and chief executive officer. “This deal significantly enhances AGCO’s technology stack with disruptive technologies that cover every aspect of the crop cycle, which ultimately helps us better serve farmers no matter what brand they use.”
The JV will complement and enhance AGCO’s existing precision ag portfolio to deliver 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.
Commercial synergies resulting from direct access to AGCO’s global OEM, aftermarket, other OEM, and retrofit channels, in addition to modest run-rate cost synergies are expected to approximately double the JV’s EBITDA by year five post closing.
"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," said Rob Painter, CEO of Trimble. "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.”
Closing is expected in the first half of 2024, subject to the satisfaction of regulatory approval and customary closing conditions. ●
Kansas State University has launched the interdisciplinary Institute for Digital Agriculture and Advanced Analytics.
The institute is a people-centered interdisciplinary collective transforming learning, research and outreach around digital technologies and advanced analytical methods to enhance agricultural, environmental and socioeconomic decision making.
Work done at the institute will include developing and integrating analytical methods and digital technologies – like sensors, automation and robots – that enhance food production and inform decision making for sustainable and resilient systems.
"A next-generation land-grant university is an innovative university, and that's exactly what we're doing with our new Institute for Digital Agriculture and Advanced Analytics," said K-State President Richard Linton. “Through this new institute, Kansas State University is working across disciplines to solve global agricultural problems and build the economic prosperity of Kansas and one of our state's key industries."
Harnessing expertise from the College of Agriculture, the College of Arts and Sciences, the College of Education, the Carl R. Ice College of Engineering, Kansas State University Salina Aerospace and Technology Campus, and K-State Research and Extension, the institute will advance research and learning in the digital agriculture and advanced analytics realm.
The interdisciplinary structure of the institute will give faculty and students the opportunity to experience firsthand how professionals in different disciplines approach and solve problems, according to Shawn Hutchinson, professor of geography and geospatial sciences and a member of the institute’s core administrave team. “These perspectives and deep technological expertise will enrich agricultural research and outreach efforts and strengthen degree programs, producing our next-generation agricultural practitioners, researchers and policymakers.”
The innovation of the institutewon't be isolated to just the university; in fact, public-private partnerships with industry experts and collaboration with Kansas communities are key componentsof the institute's success.
"The goal is to expand our digital footprint to rural communities to facilitate innovative and entrepreneurial ideas with research-driven expertise as it pertains to digital ag," said Ignacio Ciampitti, professor of agronomy and a member of the institute’s core administrative team. "Our team has faculty with K-State Research and Extension appointments facilitating the translation of our science from the research and classroom to every county in Kansas." ●
Kansas State University is launching the interdisciplinary Institute for Digital Agriculture and Advanced Analytics, a people-centered collective transforming learning, research and outreach around digital technologies and advanced analytical methods. Credit: Kansas State University.
Monarch Tractor, maker of the Monarch Tractor MK-V, the world’s first fully electric, driver-optional, connected tractor, has launched into the European market.
“We’ve seen first-hand the benefits that electrification has on farm and vineyard operations, and a huge part of our mission is to ensure these benefits support farmers and vineyard owners in their transitions to organic and regenerative practices,” said Mark Schwager, cofounder of Monarch Tractor. “Entering into the European market, which has been openly committed to investing in and supporting the green revolution, allows us to play an integral role in making organic and sustainable practices even more profitable for farmers in the region, showing farmers globally what’s possible.”
The MK-V looks and works like a traditional tractor but offers so much more, according to the company; it is a farm energy platform with micro-grid capabilities and a cloud-controlled by-wire tractor management platform that is compatible with existing farm ecosystems and creates clear paybacks for farmers. The MK-V combines electrification, machine learning, and data analysis to enhance farm operations by driving labour productivity, increased safety, and significant cost savings. Monarch estimates that existing customers can save up to 58 percent of fuel costs through employing an MK-V fleet, all while reducing about 54 metric tons of CO2e emissions for every MK-V utilized.
“We’re already seeing interest on farms across Europe in integrating the MK-V into operations,” said Jean-Philippe Féjoz, sales director for Monarch Tractor. “There is a clear demand here for clean energy solutions and the MK-V is a catalyst for bringing that to life.”
Amplifying the MK-V’s capabilities, Wingspan Ag Intelligence (WingsapnAI) is a one-stop solution that integrates a farm management system, vehicle position tracking, crop image collection, and automated operations planning into one platform. Monarch customers can harness the true power of the MK-V with WingspanAI automated operations planning, remote fleet management, tractor performance reports, maintenance diagnostics, and more. ●
