In the context of the input sentence, determine the relationship between 'Valtra' and 'AGCO'.
Options: product/material produced, parent organization, distribution format, owned by

This new offering represents a significant update for VarioGuide, available on AGCO’s Fendt ® machines, and for Auto-Guide TM for all other AGCO brands including Challenger ® , Massey Ferguson ® and Valtra ® .
owned by