Core Insights - AGCO is the largest pure-play farm equipment company globally, focusing solely on serving farmers [1] - The company reported approximately $11.5 billion in sales last year, with 50% from Europe, 25% from North America, and the remainder from South America and Asia/Africa [1] Strategic Developments - AGCO has made several strategic moves over the past few years, particularly in its PTx (precision and technologies multiplied) business [2] - The PTx business has been developed through acquisitions, including Precision Planting and six other small tech companies, alongside a significant increase in the engineering budget [2]