Analyze the relationship between 'Massey Ferguson' and 'AGCO' within the context of the input sentence.
Options: chairperson, manufacturer, parent organization, 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 ® .
parent organization