Deutz-Allis was formed when Deutz-Fahr of Germany, part of KHD, purchased the agricultural assets of the Allis-Chalmers corporation in 1985.

Deutz-Allis was eventually sold to the Allis-Gleaner Corporation, or AGCO), in 1990. Deutz-Allis tractors and equipment were renamed in North America to be AGCO-Allis, but continued in South America until 2001, when the South American operations were renamed AGCO-Allis. In Argentina, was made the Deutz-Allis 5.125 L^{[1][better source needed]} and the Deutz-Allis 5.190.^{[2][better source needed]}

In North America, Deutz-Allis tractors carried both the traditional Deutz-green color, and Allis-orange color.^{[citation needed]} In South America they were Deutz-green.^{[citation needed]}